Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 30, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,016 | |
Entity Registrant Name | FRANKLIN FINANCIAL SERVICES CORP /PA/ | |
Entity Central Index Key | 723,646 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 4,286,271 | |
Trading Symbol | fraf |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 12,912 | $ 20,664 |
Interest-bearing deposits in other banks | 46,215 | 18,502 |
Total cash and cash equivalents | 59,127 | 39,166 |
Investment securities available for sale, at fair value | 154,691 | 159,473 |
Restricted stock | 439 | 782 |
Loans held for sale | 559 | 461 |
Loans | 802,568 | 782,016 |
Allowance for loan losses | (10,342) | (10,086) |
Net Loans | 792,226 | 771,930 |
Premises and equipment, net | 14,592 | 14,759 |
Bank owned life insurance | 22,063 | 22,364 |
Goodwill | 9,016 | 9,016 |
Other real estate owned | 6,331 | 6,451 |
Deferred tax assets, net | 4,288 | 4,758 |
Other assets | 6,604 | 6,135 |
Total assets | 1,069,936 | 1,035,295 |
Deposits | ||
Noninterest-bearing checking | 159,829 | 152,095 |
Money management, savings and interest checking | 707,596 | 680,686 |
Time | 83,543 | 85,731 |
Total Deposits | 950,968 | 918,512 |
Other liabilities | 4,655 | 5,407 |
Total liabilities | 955,623 | 923,919 |
Shareholders' equity | ||
Common stock, $1 par value per share,15,000,000 shares authorized with 4,673,477 shares issued and 4,290,220 shares outstanding at March 31, 2016 and 4,659,319 shares issued and 4,275,879 shares outstanding at December 31, 2015 | $ 4,673 | $ 4,659 |
Capital stock without par value, 5,000,000 shares authorized with no shares issued and outstanding | ||
Additional paid-in capital | $ 39,083 | $ 38,778 |
Retained earnings | 80,430 | 78,517 |
Accumulated other comprehensive loss | (3,020) | (3,722) |
Treasury stock, 383,257 shares at March 31, 2016 and 383,440 shares at December 31, 2015, at cost | (6,853) | (6,856) |
Total shareholders' equity | 114,313 | 111,376 |
Total liabilities and shareholders' equity | $ 1,069,936 | $ 1,035,295 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2016 | Dec. 31, 2015 |
Consolidated Balance Sheets [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 1 | $ 1 |
Common Stock, Shares Authorized | 15,000,000 | 15,000,000 |
Common Stock, Shares, Issued | 4,673,477 | 4,659,319 |
Common Stock, Shares, Outstanding | 4,290,220 | 4,275,879 |
Capital Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Capital Stock, Shares, Issued | 0 | 0 |
Capital Stock, Shares, Outstanding | 0 | 0 |
Treasury Stock, Shares | 383,257 | 383,440 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest income | ||
Loans, including fees | $ 8,088 | $ 7,376 |
Interest and dividends on investments: | ||
Taxable interest | 575 | 636 |
Tax exempt interest | 367 | 408 |
Dividend income | 6 | 51 |
Deposits and obligations of other banks | 62 | 55 |
Total interest income | 9,098 | 8,526 |
Interest expense | ||
Deposits | 543 | 641 |
Short-term borrowings | 2 | |
Total interest expense | 545 | 641 |
Net interest income | 8,553 | 7,885 |
Provision for loan losses | 300 | 325 |
Net interest income after provision for loan losses | 8,253 | 7,560 |
Noninterest income | ||
Investment and trust services fees | 1,253 | 1,263 |
Loan service charges | 226 | 182 |
Deposit service charges and fees | 578 | 490 |
Other service charges and fees | 303 | 296 |
Debit card income | 347 | 318 |
Increase in cash surrender value of life insurance | 135 | 139 |
Net (loss) gain on sale of other real estate owned | (8) | 32 |
OTTI losses on debt securities | (20) | (20) |
Gain on conversion of investment security | 728 | |
Securities gains | 1 | |
Other | 138 | 224 |
Total noninterest income | 2,953 | 3,652 |
Noninterest expense | ||
Salaries and employee benefits | 4,370 | 4,083 |
Ocupancy, net | 600 | 615 |
Furniture and equipment | 216 | 231 |
Advertising | 282 | 188 |
Legal and professional | 297 | 296 |
Data processing | 497 | 467 |
Pennsylvania bank shares tax | 237 | 196 |
Intangible amortization | 90 | |
FDIC insurance | 157 | 148 |
ATM/debit card processing | 228 | 187 |
Foreclosed real estate | 63 | 12 |
Telecommunications | 118 | 117 |
Other | 730 | 859 |
Total noninterest expense | 7,795 | 7,489 |
Income before federal income taxes | 3,411 | 3,723 |
Federal income tax expense | 685 | 839 |
Net income | $ 2,726 | $ 2,884 |
Per share | ||
Basic earnings per share | $ 0.64 | $ 0.68 |
Diluted earnings per share | 0.64 | 0.68 |
Cash dividends declared | $ 0.19 | $ 0.17 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | ||
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net income | $ 2,726 | $ 2,884 | |
Securities: | |||
Unrealized gains arising during the period | 1,045 | 703 | |
Reclassification adjustment for losses (gains) included in net income | [1] | 19 | (708) |
Net unrealized gains (losses) | 1,064 | (5) | |
Tax effect | (362) | 2 | |
Net of tax amount | 702 | (3) | |
Derivatives: | |||
Unrealized losses arising during the period | (1) | ||
Reclassification adjustment for losses included in net income | [2] | 96 | |
Net unrealized gains | 95 | ||
Tax effect | (33) | ||
Net of tax amount | 62 | ||
Total other comprehensive income | 702 | 59 | |
Total Comprehensive Income | 3,428 | 2,943 | |
Reclassification adjsutment / Statement line item | |||
Securities / gain on conversion & securities (gains) losses, net | $ (6) | 241 | |
Derivatives / interest expense on deposits | $ (33) | ||
[1] | Securities / gain on conversion & securities (gains) losses, net | ||
[2] | Derivatives / interest expense on deposits |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2014 | $ 4,607 | $ 37,504 | $ 71,452 | $ (3,100) | $ (6,942) | $ 103,521 |
Net income | 2,884 | 2,884 | ||||
Other comprehensive income | 59 | 59 | ||||
Cash dividends declared | (718) | (718) | ||||
Treasury shares issued under stock option plans | 4 | 4 | ||||
Common stock issued under dividend reinvestment plan | 9 | 203 | 212 | |||
Balance at Mar. 31, 2015 | 4,616 | 37,707 | 73,618 | (3,041) | (6,938) | 105,962 |
Balance at Dec. 31, 2015 | 4,659 | 38,778 | 78,517 | (3,722) | (6,856) | 111,376 |
Net income | 2,726 | 2,726 | ||||
Other comprehensive income | 702 | 702 | ||||
Cash dividends declared | (813) | (813) | ||||
Treasury shares issued under stock option plans | 1 | 3 | 4 | |||
Common stock issued under dividend reinvestment plan | 14 | 290 | 304 | |||
Stock option compensation expense | 14 | 14 | ||||
Balance at Mar. 31, 2016 | $ 4,673 | $ 39,083 | $ 80,430 | $ (3,020) | $ (6,853) | $ 114,313 |
Consolidated Statements Of Cha7
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Common Stock, Dividends, Per Share, Declared | $ 0.19 | $ 0.17 |
Treasury shares issued under stock option plan, shares | 183 | 205 |
Common Stock [Member] | ||
Common stock issued under dividend reinvestment plan, shares | 14,158 | 9,660 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities | ||
Net income | $ 2,726 | $ 2,884 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 331 | 339 |
Net amortization of loans and investment securities | 355 | 377 |
Amortization and net change in mortgage servicing rights valuation | 14 | 11 |
Amortization of intangibles | 90 | |
Provision for loan losses | 300 | 325 |
Gain on sales of securities | (1) | |
Impairment write-down on securities recognized in earnings | 20 | 20 |
Gain on conversion of investment security | (728) | |
Loans originated for sale | (2,805) | (882) |
Proceeds from sale of loans | 2,707 | 1,116 |
Write-down on other real estate owned | 46 | |
Net loss (gain) on sale or disposal of other real estate/other repossessed assets | 8 | (32) |
Increase in cash surrender value of life insurance | (135) | (139) |
Stock option compensation | 14 | |
(Increase) decrease in other assets | (545) | 198 |
(Decrease) increase in other liabilities | (684) | 278 |
Net cash provided by operating activities | 2,351 | 3,857 |
Cash flows from investing activities | ||
Proceeds from sales and calls of investment securities available for sale | 615 | |
Proceeds from maturities and pay-downs of securities available for sale | 7,426 | 6,399 |
Purchase of investment securities available for sale | (2,637) | (11,146) |
Net decrease in restricted stock | 343 | |
Net (increase) decrease in loans | (20,440) | 2,982 |
Capital expenditures | (150) | (120) |
Proceeds from surrender of life insurance policy | 436 | |
Proceeds from sale of other real estate | 66 | 129 |
Net cash used in investing activities | (14,341) | (1,756) |
Cash flows from financing activities | ||
Net increase in demand deposits, interest-bearing checking, and savings accounts | 34,644 | 27,955 |
Net decrease in time deposits | (2,188) | (3,741) |
Net decrease in repurchase agreements | (9,079) | |
Dividends paid | (813) | (718) |
Cash received from option exercises | 4 | 4 |
Common stock issued under dividend reinvestment plan | 304 | 212 |
Net cash provided by financing activities | 31,951 | 14,633 |
Increase in cash and cash equivalents | 19,961 | 16,734 |
Cash and cash equivalents as of January 1 | 39,166 | 48,593 |
Cash and cash equivalents as of March 31 | 59,127 | 65,327 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid during the year for: Interest on deposits and other borrowed funds | 522 | 611 |
Cash paid during the year for: Income taxes | $ 700 | 262 |
Noncash Activities | ||
Loans transferred to Other Real Estate | $ 449 |
Basis Of Presentation
Basis Of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Basis Of Presentation [Abstract] | |
Basis Of Presentation | Note 1 - Basis of Presentation The consolidated financial statements include the accounts of Franklin Financial Services Corporation (the Corporation), and its wholly-owned subsidiaries, Farmers and Merchants Trust Company of Chambersburg (the Bank) and Franklin Future Fund Inc. Farmers and Merchants Trust Company of Chambersburg is a commercial bank that has one wholly-owned subsidiary, Franklin Financial Properties Corp. Franklin Financial Propert ies Corp. holds real estate assets that are leased by the Bank. Franklin Future Fund Inc. is a non-bank investment company. The activities of non-bank entities are not significant to the consolidated totals. All significant intercompany transactions and account balances have been eliminated. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations, and cash flows as of March 31 , 201 6 , and for all other periods presented have been made. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 201 5 Annual Report on Form 10-K. The consolidated results of operations for the period ended March 3 1 , 201 6 are not necessarily indicative of the operating results for the full year. Management has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. The consolidated balance sheet at December 31, 201 5 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. Earnings per share are computed based on the weighted average number of shares outstanding during each period end. A reconciliation of the weighted average shares outstanding used to calculate basic earnings per share and diluted earnings per share follows: For the Three Months Ended March 31 (Dollars and shares in thousands, except per share data) 2016 2015 Weighted average shares outstanding (basic) 4,283 4,223 Impact of common stock equivalents 2 6 Weighted average shares outstanding (diluted) 4,285 4,229 Anti-dilutive options excluded from calculation 63 29 Net income $ 2,726 $ 2,884 Basic earnings per share $ 0.64 $ 0.68 Diluted earnings per share $ 0.64 $ 0.68 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2016 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Note 2. Recent Accounting Pronouncements Revenue from Contracts with Customers (Topic 606). The amendments in this Update (ASU 2014-09) establish a comprehensive revenue recognition standard for virtually all industries under U.S. GAAP, including those that previously followed industry-specific guidance such as the real estate, construction and software industries. The revenue standard’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. To accomplish this objective, the standard requires five basic steps: ( i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The ASU is effective for public entities for annual periods beginning after December 15, 2016, including interim periods therein. Three basic transition methods are available – full retrospective, retrospective with certain practical expedients, and a cumulative effect approach. Under the third alternative, an entity would apply the new revenue standard only to contracts that are incomplete under legacy U.S. GAAP at the date of initial application (e.g. January 1, 2017) and recognize the cumulative effect of the new standard as an adjustment to the opening balance of retained earnings. That is, prior years would not be restated and additional disclosures would be required to enable users of the financial statements to understand the impact of adopting the new standard in the current year compared to prior years that are presented under legacy U.S. GAAP. Early adoption is prohibited under U.S. GAAP. The Corporation does not believe ASU 2014-09 will have a material effect on its financial statements. Financial Instruments – Overall (Topic 825-10). In January 2016, the FASB issued ASU 2016-01, “Financial Instruments – Overall (Topic 825-10): “Recognition and Measurement of Financial Assets and Financial Liabilities.” ASU 2016-01 amends the guidance on the classification and measurement of financial instruments. Some of the amendments in ASU 2016-01 include the following: 1) requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; 2) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; 3) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; and 4) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value; among others. For public business entities, the amendments of ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Corporation does not believe ASU 2016-01 will have a material effect on its financial statements. Leases (Topic 842) . In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, Leases. From the lessee’s perspective, the new standard established a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement for a lessees. From the lessor’s perspective, the new standard requires a lessor to classify leases as either sales-type, finance or operating. A lease will be treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as financing. If the lessor doesn’t convey risks and rewards or control, an operating lease results. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Corporation is currently evaluating the impact of the pending adoption of the new standard on its consolidated financial statements. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | Note 3. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss es included in shareholders' equity are as follows: March 31, December 31, 2016 2015 (Dollars in thousands) Net unrealized gains on securities $ 2,202 $ 1,138 Tax effect (749) (387) Net of tax amount 1,453 751 Accumulated pension adjustment (6,777) (6,777) Tax effect 2,304 2,304 Net of tax amount (4,473) (4,473) Total accumulated other comprehensive loss $ (3,020) $ (3,722) |
Guarantees
Guarantees | 3 Months Ended |
Mar. 31, 2016 | |
Guarantees [Abstract] | |
Guarantees | Note 4. Guarantees The Corporation does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Bank generally holds collateral and/or personal guarantees supporting these commitments. The Bank had $ 29.1 million and $ 25.9 million of standby letters of credit as of March 31, 2016 and December 31, 2015, respectively. Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. The amount of the liability as of March 31, 2016 and December 31, 2015 for guarantees under standby letters of credit issued was not material. |
Investments
Investments | 3 Months Ended |
Mar. 31, 2016 | |
Investments [Abstract] | |
Investments | Note 5. Investments The amortized cost and estimated fair value of investment securities available for sale as of March 31, 2016 and December 31, 2015 are as follows : (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair March 31, 2016 cost gains losses value Equity securities $ 164 $ 72 $ - $ 236 U.S. Government and Agency securities 13,362 286 (26) 13,622 Municipal securities 65,022 1,937 (78) 66,881 Trust preferred securities 5,964 - (1,000) 4,964 Agency mortgage-backed securities 66,679 1,060 (62) 67,677 Private-label mortgage-backed securities 1,261 20 (5) 1,276 Asset-backed securities 37 - (2) 35 $ 152,489 $ 3,375 $ (1,173) $ 154,691 (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair December 31, 2015 cost gains losses value Equity securities $ 164 $ 69 $ - $ 233 U.S. Government and Agency securities 13,705 164 (33) 13,836 Municipal securities 67,851 1,555 (218) 69,188 Trust preferred securities 5,958 - (669) 5,289 Agency mortgage-backed securities 69,284 621 (386) 69,519 Private-label mortgage-backed securities 1,335 39 (2) 1,372 Asset-backed securities 38 - (2) 36 $ 158,335 $ 2,448 $ (1,310) $ 159,473 At March 31, 2016 and December 31, 2015, the fair value of investment securities pledged to secure public funds, trust balances, deposit and other obligations totaled $ 69.8 million and $ 79.6 million , respectively. The amortized cost and estimated fair value of debt securities at March 31, 2016 , by contractual maturity are shown below. Actual maturities may differ from contractual maturities because of prepayment or call options embedded in the securities. (Dollars in thousands) Amortized cost Fair value Due in one year or less $ 1,673 $ 1,682 Due after one year through five years 12,879 13,215 Due after five years through ten years 27,472 28,425 Due after ten years 42,361 42,180 84,385 85,502 Mortgage-backed securities 67,940 68,953 $ 152,325 $ 154,455 The composition of the net realized securities gains for the three months ended are as follows: For the Three Months Ended March 31 (Dollars in thousands) 2016 2015 Gross gains realized $ 1 $ - Gross losses realized - - Conversion gain - 728 Net gains realized $ 1 $ 728 The following table provides additional detail about trust preferred securities as of March 31, 2016: Trust Preferred Securities (Dollars in thousands) Deal Name Maturity Single Issuer or Pooled Class Amortized Cost Fair Value Gross Unrealized Gain (Loss) Lowest Credit Rating Assigned BankAmerica Cap III 1/15/2027 Single Preferred Stock $ 965 $ 772 $ (193) BB+ Wachovia Cap Trust II 1/15/2027 Single Preferred Stock 278 241 (37) BBB Huntington Cap Trust 2/1/2027 Single Preferred Stock 944 803 (141) BB Corestates Captl Tr II 2/15/2027 Single Preferred Stock 940 802 (138) BBB+ Huntington Cap Trust II 6/15/2028 Single Preferred Stock 896 776 (120) BB Chase Cap VI JPM 8/1/2028 Single Preferred Stock 965 786 (179) BBB- Fleet Cap Tr V 12/18/2028 Single Preferred Stock 976 784 (192) BB+ $ 5,964 $ 4,964 $ (1,000) The following table provides additional detail about private label mortgage-backed securities as of March 31, 2016: Private Label Mortgage Backed Securities (Dollars in thousands) Gross Cumulative Origination Amortized Fair Unrealized Collateral Lowest Credit Credit OTTI Description Date Cost Value Gain (Loss) Type Rating Assigned Support % Charges MALT 2004-6 7A1 6/1/2004 $ 334 $ 337 $ 3 ALT A CCC 14.83 $ - RALI 2005-QS2 A1 2/1/2005 195 206 11 ALT A CC 4.96 10 RALI 2006-QS4 A2 4/1/2006 442 441 (1) ALT A D - 323 GSR 2006-5F 2A1 5/1/2006 57 63 6 Prime D - 15 RALI 2006-QS8 A1 7/28/2006 233 229 (4) ALT A D - 227 $ 1,261 $ 1,276 $ 15 $ 575 Impairment : The investment portfolio contained forty-seven securities with $25.8 million of temporarily impaired fair value and $1.2 million in unrealized losses at March 31, 2016. The total unrealized loss position has decreased from $1.3 million at year-end 2015. For securities with an unrealized loss, Management applies a systematic methodology in order to perform an assessment of the potential for other-than-temporary impairment. In the case of debt securities, investments considered for other-than-temporary impairment: (1) had a specified maturity or repricing date; (2) were generally expected to be redeemed at par, and (3) were expected to achieve a recovery in market value within a reasonable period of time. In addition, the Bank considers whether it intends to sell these securities or whether it will be forced to sell these securities before the earlier of amortized cost recovery or maturity. Equity securities are assessed for other-than-temporary impairment based on the length of time of impairment, dollar amount of the impairment and general market and financial conditions relating to specific issues. The impairment identified on debt and equity securities and subject to assessment at March 31, 2016, was deemed to be temporary and required no further adjustments to the financial statements, unless otherwise noted. The following table reflects temporary impairment in the investment portfolio (excluding restricted stock), aggregated by investment category, length of time that individual securities have been in a continuous unrealized loss position and the number of securities in each category as of March 31, 2016 and December 31, 2015: March 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ 1,308 $ (1) 4 $ 3,363 $ (25) 9 $ 4,671 $ (26) 13 Municipal securities - - - 3,926 (78) 6 3,926 (78) 6 Trust preferred securities - - - 4,964 (1,000) 7 4,964 (1,000) 7 Agency mortgage-backed securities 3,845 (15) 6 7,749 (47) 12 11,594 (62) 18 Private-label mortgage-backed securities - - - 670 (5) 2 670 (5) 2 Asset-backed securities - - - 5 (2) 1 5 (2) 1 Total temporarily impaired securities $ 5,153 $ (16) 10 $ 20,677 $ (1,157) 37 $ 25,830 $ (1,173) 47 December 31, 2015 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ 479 $ (1) 3 $ 4,364 $ (32) 10 $ 4,843 $ (33) 13 Municipal securities 5,806 (35) 8 4,785 (183) 7 10,591 (218) 15 Trust preferred securities - - - 5,289 (669) 7 5,289 (669) 7 Agency mortgage-backed securities 18,977 (215) 29 7,394 (171) 13 26,371 (386) 42 Private-label mortgage-backed securities - - - 246 (2) 1 246 (2) 1 Asset-backed securities - - - 5 (2) 1 5 (2) 1 Total temporarily impaired securities $ 25,262 $ (251) 40 $ 22,083 $ (1,059) 39 $ 47,345 $ (1,310) 79 The unrealized loss in the municipal bond portfolio decreased to $78 thousand from $218 thousand at December 31, 2015 as market prices improved during the quarter. There are six securities in this portfolio with an unrealized loss and the loss in this portfolio is deemed to be non-credit related and no other-than-temporary impairment charges have been recorded. The trust preferred portfolio contains seven securities with a fair value of $5.0 million and an unrealized loss of $1.0 million. The trust-preferred securities held by the Bank are single entity issues, not pooled trust preferred securities. Therefore, the impairment review of these securities is based only on the issuer and the security cannot be impaired by the performance of other issuers as if it was a pooled trust-preferred bond. All of the Bank’s trust preferred securities are single issue, variable rate notes with long maturities (2027 – 2028). None of these bonds have suspended or missed a dividend payment. At March 31, 2016, the Bank believes it will be able to collect all interest and principal due on these bonds and no other-than-temporary-impairment charges were recorded. There are two PLMBS bonds showing a small unrealized loss of $5 thousand. However, the PLMBS sector as a whole is showing an unrealized gain of $15 thousand at quarter end. This is primarily a result of the cumulative OTTI charges recorded on this portfolio. Due to the nature of these bonds, they are evaluated closely. These bonds were all rated AAA at time of purchase, but have since experienced rating declines. Some have experienced increased delinquencies and defaults, while others have seen the credit support increase as the bonds paid-down. The Bank monitors the performance of the PLMBS investments on a regular basis and reviews delinquencies, default rates, credit support levels and various cash flow stress test scenarios. In determining the credit related loss, Management considers all principal past due 60 days or more as a loss. If additional principal moves beyond 60 days past due, it will also be considered a loss. As a result of the analysis on PLMBS it was determined that a $20 thousand impairment charge was required at the end of the first quarter. The Bank has recorded $575 thousand of cumulative impairment charges on this portfolio. Management continues to monitor these securities and it is possible that additional write-downs may occur if current loss trends continue. The following table represents the cumulative credit losses on debt securities recognized in earnings as of March 31: (Dollars in thousands) Three Months Ended 2016 2015 Balance of cumulative credit-related OTTI at January 1 $ 555 $ 535 Additions for credit-related OTTI not previously recognized 20 20 Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis - - Decreases for previously recognized credit-related OTTI because there was an intent to sell - - Reduction for increases in cash flows expected to be collected - - Balance of credit-related OTTI at March 31 $ 575 $ 555 The Bank held $439 thousand of restricted stock at March 31, 2016. Except for $30 thousand, this investment represents stock in FHLB Pittsburgh. The Bank is required to hold this stock to be a member of FHLB and it is carried at cost of $100 per share. The level of FHLB stock held is determined by FHLB and is comprised of a minimum membership amount plus a variable activity amount. FHLB stock is evaluated for impairment primarily based on an assessment of the ultimate recoverability of its cost. As a government sponsored entity, FHLB has the ability to raise funding through the U.S. Treasury that can be used to support its operations. There is not a public market for FHLB stock and the benefits of FHLB membership (e.g., liquidity and low cost funding) add value to the stock beyond purely financial measures. Management intends to remain a member of the FHLB and believes that it will be able to fully recover the cost basis of this investment. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2016 | |
Loans [Abstract] | |
Loans | Note 6. Loans The Bank reports its loan portfolio based on the primary collateral of the loan. It further classifies these loans by the primary purpose, either consumer or commercial. The Bank’s residential real estate loans include long-term loans to individuals and businesses secured by mortgages on the borrower’s real property and include home equity loans . Construction loans are made to finance the purchase of land and the construction of residential and commercial buildings thereon, and are secured by mortgages on real estate. Commercial real estate loans include construction, owner and non-owner occupied properties and farm real estate. Commercial loans are made to businesses of various sizes for a variety of purposes including property, plant and equipment, working capital and loans to government municipalities . Commercial lending is concentrated in the Bank’s primary market, but also includes purchased loan participations. Consumer loans are comprised of installment loans and unsecured personal lines of credit. A summary of loans outstanding, by primary collateral, at the end of the reporting periods is as follows: Change (Dollars in thousands) March 31, 2016 December 31, 2015 Amount % Residential Real Estate 1-4 Family Consumer first liens $ 101,412 $ 103,698 $ (2,286) (2.2) Commercial first lien 60,394 57,780 2,614 4.5 Total first liens 161,806 161,478 328 0.2 Consumer junior liens and lines of credit 46,479 44,996 1,483 3.3 Commercial junior liens and lines of credit 5,936 5,917 19 0.3 Total junior liens and lines of credit 52,415 50,913 1,502 3.0 Total residential real estate 1-4 family 214,221 212,391 1,830 0.9 Residential real estate - construction Consumer 514 545 (31) (5.7) Commercial 7,593 7,343 250 3.4 Total residential real estate construction 8,107 7,888 219 2.8 Commercial real estate 359,642 340,695 18,947 5.6 Commercial 215,671 215,942 (271) (0.1) Total commercial 575,313 556,637 18,676 3.4 Consumer 4,927 5,100 (173) (3.4) 802,568 782,016 20,552 2.6 Less: Allowance for loan losses (10,342) (10,086) (256) 2.5 Net Loans $ 792,226 $ 771,930 $ 20,296 2.6 Included in the loan balances are the following: Net unamortized deferred loan fees (costs) $ 547 $ 436 Loans pledged as collateral for borrowings and commitments from: FHLB $ 665,635 $ 643,449 Federal Reserve Bank 42,932 45,111 $ 708,567 $ 688,560 |
Loan Quality
Loan Quality | 3 Months Ended |
Mar. 31, 2016 | |
Loan Quality [Abstract] | |
Loan Quality | Note 7. Loan Quality The following table presents, by c l ass , the activity in the Allowance for Loan Losses (ALL) for the periods ended: Residential Real Estate 1-4 Family Junior Liens & Commercial (Dollars in thousands) First Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total ALL at December 31, 2015 $ 989 $ 308 $ 194 $ 5,649 $ 1,519 $ 102 $ 1,325 $ 10,086 Charge-offs (3) - - (3) (63) (42) - (111) Recoveries 32 - - - 15 20 - 67 Provision (21) 8 5 535 39 19 (285) 300 ALL at March 31, 2016 $ 997 $ 316 $ 199 $ 6,181 $ 1,510 $ 99 $ 1,040 $ 10,342 ALL at December 31, 2014 $ 994 $ 271 $ 214 $ 4,978 $ 1,515 $ 127 $ 1,012 $ 9,111 Charge-offs - - - - (201) (52) - (253) Recoveries 2 - - - 6 19 - 27 Provision 20 (3) 35 159 32 23 59 325 ALL at March 31, 2015 $ 1,016 $ 268 $ 249 $ 5,137 $ 1,352 $ 117 $ 1,071 $ 9,210 T he following table presents, by c la ss , loans that were evaluated for the ALL under the specific reserve (individually) and those that were evaluated under the general reserve (collectively) and the amount of the ALL established in each class as of March 31, 2016 and December 31, 201 5 : Residential Real Estate 1-4 Family Junior Liens & Commercial (Dollars in thousands) First Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total March 31, 2016 Loans evaluated for ALL: Individually $ 398 $ 52 $ 501 $ 19,415 $ - $ - $ - $ 20,366 Collectively 161,408 52,363 7,606 340,227 215,671 4,927 - 782,202 Total $ 161,806 $ 52,415 $ 8,107 $ 359,642 $ 215,671 $ 4,927 $ - $ 802,568 ALL established for loans evaluated: Individually $ - $ - $ - $ 74 $ - $ - $ - $ 74 Collectively 997 316 199 6,107 1,510 99 1,040 10,268 ALL at March 31, 2016 $ 997 $ 316 $ 199 $ 6,181 $ 1,510 $ 99 $ 1,040 $ 10,342 December 31, 2015 Loans evaluated for ALL: Individually $ 930 $ 51 $ 502 $ 14,309 $ 230 $ - $ - $ 16,022 Collectively 160,548 50,862 7,386 326,386 215,712 5,100 - 765,994 Total $ 161,478 $ 50,913 $ 7,888 $ 340,695 $ 215,942 $ 5,100 $ - $ 782,016 ALL established for loans evaluated: Individually $ - $ - $ - $ - $ 9 $ - $ - $ 9 Collectively 989 308 194 5,649 1,510 102 1,325 10,077 ALL at December 31, 2015 $ 989 $ 308 $ 194 $ 5,649 $ 1,519 $ 102 $ 1,325 $ 10,086 The following table shows additional information about those loans considered to be impaired at March 31, 2016 and December 31, 201 5 : Impaired Loans With No Allowance With Allowance (Dollars in thousands) Unpaid Unpaid Recorded Principal Recorded Principal Related March 31, 2016 Investment Balance Investment Balance Allowance Residential Real Estate 1-4 Family First liens $ 1,067 $ 1,140 $ - $ - $ - Junior liens and lines of credit 65 101 - - - Total 1,132 1,241 - - - Residential real estate - construction 501 545 - - - Commercial real estate 14,312 15,044 5,376 5,376 74 Commercial 42 54 - - - Total $ 15,987 $ 16,884 $ 5,376 $ 5,376 $ 74 December 31, 2015 Residential Real Estate 1-4 Family First liens $ 1,523 $ 1,725 $ - $ - $ - Junior liens and lines of credit 105 133 - - - Total 1,628 1,858 - - - Residential real estate - construction 502 546 - - - Commercial real estate 14,431 15,007 - - Commercial 267 330 9 10 9 Total $ 16,828 $ 17,741 $ 9 $ 10 $ 9 The following table shows the average of impaired loans and related interest income for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Average Interest (Dollars in thousands) Recorded Income Investment Recognized Residential Real Estate 1-4 Family First liens $ 1,069 $ 6 Junior liens and lines of credit 70 - Total 1,139 6 Residential real estate - construction 502 - Commercial real estate 14,372 121 Commercial 44 - Total $ 16,057 $ 127 Three Months Ended March 31, 2015 Average Interest (Dollars in thousands) Recorded Income Investment Recognized Residential Real Estate 1-4 Family First liens $ 1,829 $ 8 Junior liens and lines of credit 145 - Total 1,974 8 Residential real estate - construction 931 84 Commercial real estate 22,187 69 Commercial 1,325 - Total $ 26,417 $ 161 The following table presents the aging of payments of the loan portfolio : (Dollars in thousands) Loans Past Due and Still Accruing Total Current 30-59 Days 60-89 Days 90 Days+ Total Non-Accrual Loans March 31, 2016 Residential Real Estate 1-4 Family First liens $ 160,652 $ 470 $ 76 $ 109 $ 655 $ 499 $ 161,806 Junior liens and lines of credit 52,085 240 25 - 265 65 52,415 Total 212,737 710 101 109 920 564 214,221 Residential real estate - construction 7,488 - - 118 118 501 8,107 Commercial real estate 350,024 595 - - 595 9,023 359,642 Commercial 215,369 260 - - 260 42 215,671 Consumer 4,901 22 2 2 26 - 4,927 Total $ 790,519 $ 1,587 $ 103 $ 229 $ 1,919 $ 10,130 $ 802,568 December 31, 2015 Residential Real Estate 1-4 Family First liens $ 159,998 $ 44 $ 416 $ 214 $ 674 $ 806 $ 161,478 Junior liens and lines of credit 50,541 217 50 - 267 105 50,913 Total 210,539 261 466 214 941 911 212,391 Residential real estate - construction 7,209 177 - - 177 502 7,888 Commercial real estate 330,953 5,713 196 152 6,061 3,681 340,695 Commercial 215,449 210 5 2 217 276 215,942 Consumer 5,041 55 4 - 59 - 5,100 Total $ 769,191 $ 6,416 $ 671 $ 368 $ 7,455 $ 5,370 $ 782,016 The following table reports the internal credit rating for the loan portfolio. Consumer purpose loans (mortgage, home equity and installment) are assigned a rating of either pass or substandard. Substandard consumer loans are comprised of loans 90 days or more past due and still accruing , and nonaccrual loans. Commercial purpose loans may be assigned any rating in accordance with the Bank’s internal risk rating system. Pass Special Mention Substandard Doubtful (Dollars in thousands) (1-5) (6) (7) (8) Total March 31, 2016 Residential Real Estate 1-4 Family First liens $ 158,220 $ 2,063 $ 1,523 $ - $ 161,806 Junior liens and lines of credit 52,229 28 158 - 52,415 Total 210,449 2,091 1,681 - 214,221 Residential real estate - construction 7,264 - 843 - 8,107 Commercial real estate 337,680 1,758 20,204 - 359,642 Commercial 210,697 4,537 437 - 215,671 Consumer 4,925 - 2 - 4,927 Total $ 771,015 $ 8,386 $ 23,167 $ - $ 802,568 December 31, 2015 Residential Real Estate 1-4 Family First liens $ 157,514 $ 2,122 $ 1,842 $ - $ 161,478 Junior liens and lines of credit 50,685 28 200 - 50,913 Total 208,199 2,150 2,042 - 212,391 Residential real estate - construction 7,386 - 502 - 7,888 Commercial real estate 319,985 6,175 14,535 - 340,695 Commercial 213,492 1,978 472 - 215,942 Consumer 5,100 - - - 5,100 Total $ 754,162 $ 10,303 $ 17,551 $ - $ 782,016 The following table presents information on the Bank’s Troubled Debt Restructuring (TDR) loans: Troubled Debt Restructurings That Have Defaulted on Modified Terms in the (Dollars in thousands) Troubled Debt Restructurings Last Twelve Months Number of Recorded Number of Recorded Contracts Investment Performing* Nonperforming* Contracts Investment March 31, 2016 Residential real estate - construction 1 $ 501 $ 501 $ - - $ - Residential real estate 4 651 500 151 - - Commercial real estate 11 12,558 12,558 - - - Total 16 $ 13,710 $ 13,559 $ 151 - $ - December 31, 2015 Residential real estate - construction 1 $ 502 $ 502 $ - - $ - Residential real estate 4 654 503 151 - - Commercial real estate 10 12,125 12,125 - - - Total 15 $ 13,281 $ 13,130 $ 151 - $ - * The performing status is determined by the loan’s compliance with the modified terms . The following table reports new TDR loans during 2016, concession granted and the recorded investment as of March 31, 2016 : New During Period Number of Pre-TDR After-TDR Recorded Three Months Ended March 31, 2016 Contracts Modification Modification Investment Concession Commercial real estate 1 $ 525 $ 525 $ 525 multiple There were no new TDR loans made in the first three months of 201 5 . |
OREO
OREO | 3 Months Ended |
Mar. 31, 2016 | |
OREO [Abstract] | |
OREO | Note 8. OREO Changes in other real estate owned during the three months ended March 31, 2016 and 2015 were as follows: March 31 (Dollars in thousands) 2016 2015 Balance at beginning of the period $ 6,451 $ 3,666 Additions - 449 Proceeds from dispositions (66) (129) (Loss) gain on sales, net (8) 32 Valuation adjustment (46) - Balance at the end of the period $ 6,331 $ 4,018 |
Pension
Pension | 3 Months Ended |
Mar. 31, 2016 | |
Pension [Abstract] | |
Pension | Note 9 . Pension The components of pension expense for the periods presented are as follows: Three Months Ended March 31 (Dollars in thousands) 2016 2105 Components of net periodic cost: Service cost $ 81 $ 100 Interest cost 180 178 Expected return on plan assets (293) (296) Recognized net actuarial loss 111 131 Net period cost $ 79 $ 113 The Bank expects its pension expense to de crease to approximately $ 359 thousand in 201 6 compared to $ 387 thousand in 201 5 . No pension contributions were made or are expected to be made in 2016. |
Fair Value Measurements And Fai
Fair Value Measurements And Fair Values Of Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Fair Value Measurements And Fair Values Of Financial Instruments | Note 10 . Fair Value Measurements and Fair Values of Financial Instruments Management uses its best judgment in estimating the fair value of the Corporation’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Corporation could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period -ends and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates maybe different than the amounts reported at each year-end. FASB ASC Topic 820, “Financial Instruments”, requires disclosure of the fair value of financial assets and liabilities, including those financial assets and liabilities that are not measured and reported at fair value on a recurring and nonrecurring basis. The Corporation does not report any nonfinancial assets at fair value. FASB ASC Topic 820 establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC Topic 820 are as follows: Level 1 : Valuation is based on unadjusted, quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 : Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. There may be substantial differences in the assumptions used for securities within the same level. For example, prices for U.S. Agency securities have fewer assumptions and are closer to level 1 valuations than the private label mortgage backed securities that require more assumptions and are closer to level 3 valuations. Level 3 : Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Corporation’s assumptions regarding what market participants would assume when pricing a financial instrument. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The following methods and assumptions were used to estimate the fair values of the Corporation’s financial instruments at March 31, 2016 and December 31, 201 5 . Cash and Cash Equivalents: For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Investment securities : The fair value of investment securities is determined in accordance with the methods described under FASB ASC Topic 820 as discussed below. Restricted stock: The carrying value of restricted stock approximates its fair value based on redemption provisions for the restricted stock. Loans held for sale : The fair value of loans held for sale is determined by the price set between the Bank and the purchaser prior to origination. These loans are usually sold at par. Net loans: The fair value of fixed-rate loans is estimated for each major type of loan (e.g. real estate, commercial, industrial and agricultural and consumer) by discounting the future cash flows associated with such loans using rates currently offered for loans with similar terms to borrowers of comparable credit quality. The model considers scheduled principal maturities, repricing characteristics, prepayment assumptions and interest cash flows. The discount rates used are estimated based upon consideration of a number of factors including the treasury yield curve, expense and service charge factors. For variable rate loans that reprice frequently and have no significant change in credit quality, carrying values approximate the fair value. Accrued Interest Receivable: T he carrying amount is a reasonable estimate of fair value. Deposits, Securities sold under agreements to repurchase , Short-term borrowings and Long-term debt: The fair value of demand deposits, savings accounts, and money market deposits is the amount payable on demand at the reporting date. The fair value of fixed-rate certificates of deposit and long-term debt is estimated by discounting the future cash flows using rates approximating those currently offered for certificates of deposit and borrowings with similar remaining maturities. For securities sold under agreements to repurchase and short-term borrowings , the carrying value approximates a reasonable estimate of the fair value. Accrued interest payable: The carrying amount is a reasonable estimate of fair value. The following information regarding the fair value of the Corporation’s financial instruments should not be interpreted as an estimate of the fair value of the entire Corporation since a fair value calculation is only provided for a limited portion of the Corporation’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Corporation’s disclosures and those of other companies may not be meaningful. The fair value of the Corporation's financial instruments are as follows: March 31, 2016 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 59,127 $ 59,127 $ 59,127 $ - $ - Investment securities available for sale 154,691 154,691 236 154,455 - Restricted stock 439 439 - 439 - Loans held for sale 559 559 - 559 - Net loans 792,226 800,083 - - 800,083 Accrued interest receivable 3,151 3,151 - 3,151 - Financial liabilities: Deposits $ 950,968 $ 950,695 $ - $ 950,695 $ - Accrued interest payable 147 147 - 147 - December 31, 2015 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 39,166 $ 39,166 $ 39,166 $ - $ - Investment securities available for sale 159,473 159,473 233 159,240 - Restricted stock 782 782 - 782 - Loans held for sale 461 461 - 461 - Net loans 771,930 779,742 - - 779,742 Accrued interest receivable 3,164 3,164 - 3,164 - Financial liabilities: Deposits $ 918,512 $ 918,401 $ - $ 918,401 $ - Accrued interest payable 124 124 - 124 - Recurring Fair Value Measurements For financial assets and liabilities measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2016 and December 31, 201 5 are as follows: (Dollars in Thousands Fair Value at March 31, 2016 Asset Description Level 1 Level 2 Level 3 Total Equity securities $ 236 $ - $ - $ 236 U.S. Government and Agency securities - 13,622 - 13,622 Municipal securities - 66,881 - 66,881 Trust Preferred Securities - 4,964 - 4,964 Agency mortgage-backed securities - 67,677 - 67,677 Private-label mortgage-backed securities - 1,276 - 1,276 Asset-backed securities - 35 - 35 Total assets $ 236 $ 154,455 $ - $ 154,691 (Dollars in Thousands) Fair Value at December 31, 2015 Asset Description Level 1 Level 2 Level 3 Total Equity securities $ 233 $ - $ - $ 233 U.S. Government and Agency securities - 13,836 - 13,836 Municipal securities - 69,188 - 69,188 Trust Preferred Securities - 5,289 - 5,289 Agency mortgage-backed securities - 69,519 - 69,519 Private-label mortgage-backed securities - 1,372 - 1,372 Asset-backed securities - 36 - 36 Total assets $ 233 $ 159,240 $ - $ 159,473 The Corporation used the following methods and significant assumptions to estimate the fair values for financial assets measured at fair value on a recurring basis. Investment securities : Level 1 securities represent equity securities that are valued using quoted market prices from nationally recognized markets. Level 2 securities represent debt securities that are valued using a mathematical model based upon the specific characteristics of a security in relationship to quoted prices for similar securities. Nonrecurring Fair Value Measurements For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at March 31, 2016 and December 31, 201 5 are as follows: (Dollars in Thousands) Fair Value at March 31, 2016 Asset Description Level 1 Level 2 Level 3 Total Impaired loans (1) $ - $ - $ 5,302 $ 5,302 Other real estate owned (1) 225 225 Total assets $ - $ - $ 5,527 $ 5,527 (Dollars in Thousands) Fair Value at December 31, 2015 Asset Description Level 1 Level 2 Level 3 Total Premises held-for-sale (1) $ - $ - $ 225 $ 225 Other real estate owned (1) - - 6,128 6,128 Total assets $ - $ - $ 6,353 $ 6,353 (1) Includes assets directly charged-down to fair value during the year-to-date period. The Corporation used the following methods and significant assumptions to estimate the fair values for financial assets measured at fair value on a nonrecurring basis. Impaired loans : Impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using Level 3 inputs based on customized discounting criteria. Premises held-for-sale : The fair value of premises held for sale, upon initial recognition, is estimated using Level 3 inputs within the fair value hierarchy. Other real estate : The fair value of other real estate, upon initial recognition, is estimated using Level 2 inputs within the fair value hierarchy based on observable market data and Level 3 inputs based on customized discounting criteria. In connection with the measurement and initial recognition of the foregoing assets, the Corporation recognizes charge-offs through the allowance for loan losses. Subsequent charge-offs are recognized as an expense. The Corporation did not record any liabilities at fair value for which measurement of the fair value was made on a nonrecurring basis at March 31, 2016 . For financial assets and liabilities measured at fair value on a recurring basis, there were no transfers of financial assets or liabilities between Level 1 and Level 2 during the period ending March 31, 2016 . The following table presents additional quantitative information about Level 3 assets measured at fair value on a nonrecurring basis: Quantitative Information about Level 3 Fair Value Measurements (Dollars in Thousands) at March 31, 2016 Range Asset Description Fair Value Valuation Technique Unobservable Input (Weighted Average) Impaired loans (1) $ 5,302 Appraisal Appraisal Adjustments (2) 30% ( 30% ) Cost to sell 8% ( 8% ) Other real estate owned (1) 225 Appraisal - - Cost to sell 8% ( 8% ) at December 31, 2015 Premises held-for-sale (1) $ 225 Appraisal - - Other real estate owned (1) 6,128 Appraisal - - Cost to sell 8% ( 8% ) (1) Includes assets directly charged-down to fair value during the year-to-date period. (2) Qualitative adjustments are discounts specific to each asset and are made as needed. |
Financial Derivatives
Financial Derivatives | 3 Months Ended |
Mar. 31, 2016 | |
Financial Derivatives [Abstract] | |
Financial Derivatives | Note 1 1 . Financial Derivatives The Board of Directors has given Management authorization to enter into derivative activity including interest rate swaps, caps and floors, forward-rate agreements, options and futures contracts in order to hedge interest rate risk. The Bank is exposed to credit risk equal to the positive fair value of a derivative instrument, if any, as a positive fair value indicates that the counterparty to the agreement is financially liable to the Bank. To limit this risk, counterparties must have an investment grade long-term debt rating and individual counterparty credit exposure is limited by Board approved parameters. The final swap transaction matured in 2015. The Effect of Derivative Instruments on the Statement of Income for the Three Months E nded March 31, 2016 and 20 1 5 follows: Derivatives in ASC Topic 815 Cash Flow Hedging Relationships (Dollars in thousands) Amount of Gain Location of or (Loss) Gain or (Loss) Recognized in Recognized in Income on Location of Amount of Gain Income on Derivatives Amount of Gain Gain or (Loss) or (Loss) Derivative (Ineffective (Ineffective Portion or (Loss) Reclassified from Reclassified from Portion and Amount and Amount Recognized in OCI Accumulated OCI Accumulated OCI Excluded from Excluded from net of tax on Derivative into Income into Income Effectiveness Effectiveness Date / Type (Effective Portion) (Effective Portion) (Effective Portion) Testing) Testing) Interest rate contracts Three months ended: March 31, 2016 $ - Interest Expense $ - Other income (expense) $ - March 31, 2015 $ 62 Interest Expense $ (96) Other income (expense) $ - Interest Rate Swap Agreements (“Swap Agreements”) As of March 31, 2016, the Bank had no swap agreements outstanding. The Bank had entered into interest rate swap agreements as part of its asset/liability management program. The swap agreements were free-standing derivatives and were recorded at fair value in the Corporation’s consolidated statements of condition. The Bank was party to master netting arrangements with its financial institution counterparties; however, the Bank did not offset assets and liabilities under these arrangements for financial statement presentation purposes. The master netting arrangements provided for a single net settlement of all swap agreements, as well as collateral, in the event of default on, or termination of, any one contract. Collateral, in the form of marketable securities, was posted by the counterparty with net liability positions in accordance with contract thresholds. |
Capital Ratios
Capital Ratios | 3 Months Ended |
Mar. 31, 2016 | |
Capital Ratios [Abstract] | |
Capital Ratios | Note 1 2 . Capital Ratios Capital adequacy is currently defined by regulatory agencies through the use of several minimum required ratios. In July 2013, Federal banking regulators approved the final rules from the Basel Committee on Banking Supervision for the regulation of capital requirements for bank holding companies and U.S banks, generally referred to as “Basel III.” The Basel III standards were effective for the Corporation and the Bank, effective January 1, 2015 (subject to a phase-in period for certain provisions). Basel III imposes significantly higher capital requirements and more restrictive leverage and liquidity ratios than those previously in place. The capital ratios to be considered “well capitalized” under Basel III are: (1) Common Equity Tier 1(CET1) of 6.5%, (2) Tier 1 Leverage of 5%, (3)Tier 1 Risk-Based Capital of 8%, and (4) Total Risk-Based Capital of 10%. The CET1 ratio is a new capital ratio under Basel III and the Tier 1 risk-based capital ratio of 8% has been increased from 6% . The rules also include changes in the risk weights of certain assets to better reflect credit and other risk exposures. In addition, a capital conservation buffer will be phased-in beginning January 1, 2016 at 0.125% , increasing each year until fully implemented in 2019 at 2.5% above the minimum capital ratios required to avoid any capital distribution restrictions. The capital conservation buffer will be applicable to all of the capital ratios except for the Tier1 Leverage ratio. When fully implemented, the capital conservation buffer will have the effect of increasing the minimum capital ratios by 2.5% . As of March 31, 2016, the Bank was “well capitalized’ under the Basel III requirements and believes it would be “well capitalized” on a fully-phased in basis had such a requirement been in effect. The following table summarizes regulatory capital information as of March 31, 2016 and December 31, 2015 (restated) for the Corporation and the Bank. The adequately capitalized minimum ratios, except for the Tier 1 Leverage Ratio, include the .625% Capital Conservation buffer effective for 2016. Regulatory Ratios Adequately Well Capitalized Capitalized (Dollars in thousands) March 31, 2016 December 31, 2015 Minimum Minimum Common Equity Tier 1 Risk-based Capital Ratio (1) Franklin Financial Services Corporation 14.61% 14.77% 5.125% N/A Farmers & Merchants Trust Company 14.65% 14.76% 5.125% 6.50% Tier 1 Risk-based Capital Ratio (2) Franklin Financial Services Corporation 14.61% 14.77% 6.625% N/A Farmers & Merchants Trust Company 14.65% 14.76% 6.625% 8.00% Total Risk-based Capital Ratio (3) Franklin Financial Services Corporation 15.87% 16.03% 8.625% N/A Farmers & Merchants Trust Company 15.91% 16.02% 8.625% 10.00% Tier 1 Leverage Ratio (4) Franklin Financial Services Corporation 10.38% 10.38% 4.000% N/A Farmers & Merchants Trust Company 10.39% 10.37% 4.000% 5.00% (1) Common equity Tier 1 capital/ total risk-weighted assets (2) Tier 1 capital / total risk-weighted assets (3) Total risk-based capital / total risk-weighted assets, (4) Tier 1 capital / average quarterly assets |
Reclassification
Reclassification | 3 Months Ended |
Mar. 31, 2016 | |
Reclassification [Abstract] | |
Reclassification | 31 Note 1 3 . Reclassification Certain prior period amounts may have been reclassified to conform to the current year presentation. Such reclassifications did not affect the Corporation’s financial position or results of operations . |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2016 | |
Basis Of Presentation [Abstract] | |
Consolidation | The consolidated financial statements include the accounts of Franklin Financial Services Corporation (the Corporation), and its wholly-owned subsidiaries, Farmers and Merchants Trust Company of Chambersburg (the Bank) and Franklin Future Fund Inc. Farmers and Merchants Trust Company of Chambersburg is a commercial bank that has one wholly-owned subsidiary, Franklin Financial Properties Corp. Franklin Financial Propert ies Corp. holds real estate assets that are leased by the Bank. Franklin Future Fund Inc. is a non-bank investment company. The activities of non-bank entities are not significant to the consolidated totals. All significant intercompany transactions and account balances have been eliminated. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the consolidated financial position, results of operations, and cash flows as of March 31 , 201 6 , and for all other periods presented have been made. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 201 5 Annual Report on Form 10-K. The consolidated results of operations for the period ended March 3 1 , 201 6 are not necessarily indicative of the operating results for the full year. Management has evaluated subsequent events for potential recognition and/or disclosure through the date these consolidated financial statements were issued. The consolidated balance sheet at December 31, 201 5 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete consolidated financial statements. For purposes of reporting cash flows, cash and cash equivalents include cash and due from banks, interest-bearing deposits in other banks and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. |
Earnings Per Share | Earnings per share are computed based on the weighted average number of shares outstanding during each period end. A reconciliation of the weighted average shares outstanding used to calculate basic earnings per share and diluted earnings per share follows: For the Three Months Ended March 31 (Dollars and shares in thousands, except per share data) 2016 2015 Weighted average shares outstanding (basic) 4,283 4,223 Impact of common stock equivalents 2 6 Weighted average shares outstanding (diluted) 4,285 4,229 Anti-dilutive options excluded from calculation 63 29 Net income $ 2,726 $ 2,884 Basic earnings per share $ 0.64 $ 0.68 Diluted earnings per share $ 0.64 $ 0.68 |
Basis Of Presentation (Tables)
Basis Of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Basis Of Presentation [Abstract] | |
Schedule Of Earnings Per Share, Basic And Diluted | For the Three Months Ended March 31 (Dollars and shares in thousands, except per share data) 2016 2015 Weighted average shares outstanding (basic) 4,283 4,223 Impact of common stock equivalents 2 6 Weighted average shares outstanding (diluted) 4,285 4,229 Anti-dilutive options excluded from calculation 63 29 Net income $ 2,726 $ 2,884 Basic earnings per share $ 0.64 $ 0.68 Diluted earnings per share $ 0.64 $ 0.68 |
Accumulated Other Comprehensi24
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Schedule Of Accumulated Other Comprehensive Loss | March 31, December 31, 2016 2015 (Dollars in thousands) Net unrealized gains on securities $ 2,202 $ 1,138 Tax effect (749) (387) Net of tax amount 1,453 751 Accumulated pension adjustment (6,777) (6,777) Tax effect 2,304 2,304 Net of tax amount (4,473) (4,473) Total accumulated other comprehensive loss $ (3,020) $ (3,722) |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Investments [Abstract] | |
Unrealized Gain (Loss) On Investments | (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair March 31, 2016 cost gains losses value Equity securities $ 164 $ 72 $ - $ 236 U.S. Government and Agency securities 13,362 286 (26) 13,622 Municipal securities 65,022 1,937 (78) 66,881 Trust preferred securities 5,964 - (1,000) 4,964 Agency mortgage-backed securities 66,679 1,060 (62) 67,677 Private-label mortgage-backed securities 1,261 20 (5) 1,276 Asset-backed securities 37 - (2) 35 $ 152,489 $ 3,375 $ (1,173) $ 154,691 (Dollars in thousands) Gross Gross Amortized unrealized unrealized Fair December 31, 2015 cost gains losses value Equity securities $ 164 $ 69 $ - $ 233 U.S. Government and Agency securities 13,705 164 (33) 13,836 Municipal securities 67,851 1,555 (218) 69,188 Trust preferred securities 5,958 - (669) 5,289 Agency mortgage-backed securities 69,284 621 (386) 69,519 Private-label mortgage-backed securities 1,335 39 (2) 1,372 Asset-backed securities 38 - (2) 36 $ 158,335 $ 2,448 $ (1,310) $ 159,473 |
Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity | (Dollars in thousands) Amortized cost Fair value Due in one year or less $ 1,673 $ 1,682 Due after one year through five years 12,879 13,215 Due after five years through ten years 27,472 28,425 Due after ten years 42,361 42,180 84,385 85,502 Mortgage-backed securities 67,940 68,953 $ 152,325 $ 154,455 |
Composition Of Net Realized Securities Gains (Losses) | For the Three Months Ended March 31 (Dollars in thousands) 2016 2015 Gross gains realized $ 1 $ - Gross losses realized - - Conversion gain - 728 Net gains realized $ 1 $ 728 |
Schedule Of Trust Preferred Securities | (Dollars in thousands) Deal Name Maturity Single Issuer or Pooled Class Amortized Cost Fair Value Gross Unrealized Gain (Loss) Lowest Credit Rating Assigned BankAmerica Cap III 1/15/2027 Single Preferred Stock $ 965 $ 772 $ (193) BB+ Wachovia Cap Trust II 1/15/2027 Single Preferred Stock 278 241 (37) BBB Huntington Cap Trust 2/1/2027 Single Preferred Stock 944 803 (141) BB Corestates Captl Tr II 2/15/2027 Single Preferred Stock 940 802 (138) BBB+ Huntington Cap Trust II 6/15/2028 Single Preferred Stock 896 776 (120) BB Chase Cap VI JPM 8/1/2028 Single Preferred Stock 965 786 (179) BBB- Fleet Cap Tr V 12/18/2028 Single Preferred Stock 976 784 (192) BB+ $ 5,964 $ 4,964 $ (1,000) |
Private Label Mortgage Backed Securities | (Dollars in thousands) Gross Cumulative Origination Amortized Fair Unrealized Collateral Lowest Credit Credit OTTI Description Date Cost Value Gain (Loss) Type Rating Assigned Support % Charges MALT 2004-6 7A1 6/1/2004 $ 334 $ 337 $ 3 ALT A CCC 14.83 $ - RALI 2005-QS2 A1 2/1/2005 195 206 11 ALT A CC 4.96 10 RALI 2006-QS4 A2 4/1/2006 442 441 (1) ALT A D - 323 GSR 2006-5F 2A1 5/1/2006 57 63 6 Prime D - 15 RALI 2006-QS8 A1 7/28/2006 233 229 (4) ALT A D - 227 $ 1,261 $ 1,276 $ 15 $ 575 |
Schedule Of Unrealized Loss On Investments | March 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ 1,308 $ (1) 4 $ 3,363 $ (25) 9 $ 4,671 $ (26) 13 Municipal securities - - - 3,926 (78) 6 3,926 (78) 6 Trust preferred securities - - - 4,964 (1,000) 7 4,964 (1,000) 7 Agency mortgage-backed securities 3,845 (15) 6 7,749 (47) 12 11,594 (62) 18 Private-label mortgage-backed securities - - - 670 (5) 2 670 (5) 2 Asset-backed securities - - - 5 (2) 1 5 (2) 1 Total temporarily impaired securities $ 5,153 $ (16) 10 $ 20,677 $ (1,157) 37 $ 25,830 $ (1,173) 47 December 31, 2015 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Count Value Losses Count Value Losses Count U.S. Government and Agency securities $ 479 $ (1) 3 $ 4,364 $ (32) 10 $ 4,843 $ (33) 13 Municipal securities 5,806 (35) 8 4,785 (183) 7 10,591 (218) 15 Trust preferred securities - - - 5,289 (669) 7 5,289 (669) 7 Agency mortgage-backed securities 18,977 (215) 29 7,394 (171) 13 26,371 (386) 42 Private-label mortgage-backed securities - - - 246 (2) 1 246 (2) 1 Asset-backed securities - - - 5 (2) 1 5 (2) 1 Total temporarily impaired securities $ 25,262 $ (251) 40 $ 22,083 $ (1,059) 39 $ 47,345 $ (1,310) 79 |
Other Than Temporary Impairment, Credit Losses Recognized In Earnings | (Dollars in thousands) Three Months Ended 2016 2015 Balance of cumulative credit-related OTTI at January 1 $ 555 $ 535 Additions for credit-related OTTI not previously recognized 20 20 Additional increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis - - Decreases for previously recognized credit-related OTTI because there was an intent to sell - - Reduction for increases in cash flows expected to be collected - - Balance of credit-related OTTI at March 31 $ 575 $ 555 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Loans [Abstract] | |
Schedule Of Loans Outstanding | Change (Dollars in thousands) March 31, 2016 December 31, 2015 Amount % Residential Real Estate 1-4 Family Consumer first liens $ 101,412 $ 103,698 $ (2,286) (2.2) Commercial first lien 60,394 57,780 2,614 4.5 Total first liens 161,806 161,478 328 0.2 Consumer junior liens and lines of credit 46,479 44,996 1,483 3.3 Commercial junior liens and lines of credit 5,936 5,917 19 0.3 Total junior liens and lines of credit 52,415 50,913 1,502 3.0 Total residential real estate 1-4 family 214,221 212,391 1,830 0.9 Residential real estate - construction Consumer 514 545 (31) (5.7) Commercial 7,593 7,343 250 3.4 Total residential real estate construction 8,107 7,888 219 2.8 Commercial real estate 359,642 340,695 18,947 5.6 Commercial 215,671 215,942 (271) (0.1) Total commercial 575,313 556,637 18,676 3.4 Consumer 4,927 5,100 (173) (3.4) 802,568 782,016 20,552 2.6 Less: Allowance for loan losses (10,342) (10,086) (256) 2.5 Net Loans $ 792,226 $ 771,930 $ 20,296 2.6 Included in the loan balances are the following: Net unamortized deferred loan fees (costs) $ 547 $ 436 Loans pledged as collateral for borrowings and commitments from: FHLB $ 665,635 $ 643,449 Federal Reserve Bank 42,932 45,111 $ 708,567 $ 688,560 |
Loan Quality (Tables)
Loan Quality (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Loan Quality [Abstract] | |
Allowance For Loan Losses, By Loan Segment | The following table presents, by c l ass , the activity in the Allowance for Loan Losses (ALL) for the periods ended: Residential Real Estate 1-4 Family Junior Liens & Commercial (Dollars in thousands) First Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total ALL at December 31, 2015 $ 989 $ 308 $ 194 $ 5,649 $ 1,519 $ 102 $ 1,325 $ 10,086 Charge-offs (3) - - (3) (63) (42) - (111) Recoveries 32 - - - 15 20 - 67 Provision (21) 8 5 535 39 19 (285) 300 ALL at March 31, 2016 $ 997 $ 316 $ 199 $ 6,181 $ 1,510 $ 99 $ 1,040 $ 10,342 ALL at December 31, 2014 $ 994 $ 271 $ 214 $ 4,978 $ 1,515 $ 127 $ 1,012 $ 9,111 Charge-offs - - - - (201) (52) - (253) Recoveries 2 - - - 6 19 - 27 Provision 20 (3) 35 159 32 23 59 325 ALL at March 31, 2015 $ 1,016 $ 268 $ 249 $ 5,137 $ 1,352 $ 117 $ 1,071 $ 9,210 T he following table presents, by c la ss , loans that were evaluated for the ALL under the specific reserve (individually) and those that were evaluated under the general reserve (collectively) and the amount of the ALL established in each class as of March 31, 2016 and December 31, 201 5 : Residential Real Estate 1-4 Family Junior Liens & Commercial (Dollars in thousands) First Liens Lines of Credit Construction Real Estate Commercial Consumer Unallocated Total March 31, 2016 Loans evaluated for ALL: Individually $ 398 $ 52 $ 501 $ 19,415 $ - $ - $ - $ 20,366 Collectively 161,408 52,363 7,606 340,227 215,671 4,927 - 782,202 Total $ 161,806 $ 52,415 $ 8,107 $ 359,642 $ 215,671 $ 4,927 $ - $ 802,568 ALL established for loans evaluated: Individually $ - $ - $ - $ 74 $ - $ - $ - $ 74 Collectively 997 316 199 6,107 1,510 99 1,040 10,268 ALL at March 31, 2016 $ 997 $ 316 $ 199 $ 6,181 $ 1,510 $ 99 $ 1,040 $ 10,342 December 31, 2015 Loans evaluated for ALL: Individually $ 930 $ 51 $ 502 $ 14,309 $ 230 $ - $ - $ 16,022 Collectively 160,548 50,862 7,386 326,386 215,712 5,100 - 765,994 Total $ 161,478 $ 50,913 $ 7,888 $ 340,695 $ 215,942 $ 5,100 $ - $ 782,016 ALL established for loans evaluated: Individually $ - $ - $ - $ - $ 9 $ - $ - $ 9 Collectively 989 308 194 5,649 1,510 102 1,325 10,077 ALL at December 31, 2015 $ 989 $ 308 $ 194 $ 5,649 $ 1,519 $ 102 $ 1,325 $ 10,086 |
Impaired Financing Receivables | The following table shows additional information about those loans considered to be impaired at March 31, 2016 and December 31, 201 5 : Impaired Loans With No Allowance With Allowance (Dollars in thousands) Unpaid Unpaid Recorded Principal Recorded Principal Related March 31, 2016 Investment Balance Investment Balance Allowance Residential Real Estate 1-4 Family First liens $ 1,067 $ 1,140 $ - $ - $ - Junior liens and lines of credit 65 101 - - - Total 1,132 1,241 - - - Residential real estate - construction 501 545 - - - Commercial real estate 14,312 15,044 5,376 5,376 74 Commercial 42 54 - - - Total $ 15,987 $ 16,884 $ 5,376 $ 5,376 $ 74 December 31, 2015 Residential Real Estate 1-4 Family First liens $ 1,523 $ 1,725 $ - $ - $ - Junior liens and lines of credit 105 133 - - - Total 1,628 1,858 - - - Residential real estate - construction 502 546 - - - Commercial real estate 14,431 15,007 - - Commercial 267 330 9 10 9 Total $ 16,828 $ 17,741 $ 9 $ 10 $ 9 The following table shows the average of impaired loans and related interest income for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 Average Interest (Dollars in thousands) Recorded Income Investment Recognized Residential Real Estate 1-4 Family First liens $ 1,069 $ 6 Junior liens and lines of credit 70 - Total 1,139 6 Residential real estate - construction 502 - Commercial real estate 14,372 121 Commercial 44 - Total $ 16,057 $ 127 Three Months Ended March 31, 2015 Average Interest (Dollars in thousands) Recorded Income Investment Recognized Residential Real Estate 1-4 Family First liens $ 1,829 $ 8 Junior liens and lines of credit 145 - Total 1,974 8 Residential real estate - construction 931 84 Commercial real estate 22,187 69 Commercial 1,325 - Total $ 26,417 $ 161 |
Aging Of Payments Of The Loan Portfolio | (Dollars in thousands) Loans Past Due and Still Accruing Total Current 30-59 Days 60-89 Days 90 Days+ Total Non-Accrual Loans March 31, 2016 Residential Real Estate 1-4 Family First liens $ 160,652 $ 470 $ 76 $ 109 $ 655 $ 499 $ 161,806 Junior liens and lines of credit 52,085 240 25 - 265 65 52,415 Total 212,737 710 101 109 920 564 214,221 Residential real estate - construction 7,488 - - 118 118 501 8,107 Commercial real estate 350,024 595 - - 595 9,023 359,642 Commercial 215,369 260 - - 260 42 215,671 Consumer 4,901 22 2 2 26 - 4,927 Total $ 790,519 $ 1,587 $ 103 $ 229 $ 1,919 $ 10,130 $ 802,568 December 31, 2015 Residential Real Estate 1-4 Family First liens $ 159,998 $ 44 $ 416 $ 214 $ 674 $ 806 $ 161,478 Junior liens and lines of credit 50,541 217 50 - 267 105 50,913 Total 210,539 261 466 214 941 911 212,391 Residential real estate - construction 7,209 177 - - 177 502 7,888 Commercial real estate 330,953 5,713 196 152 6,061 3,681 340,695 Commercial 215,449 210 5 2 217 276 215,942 Consumer 5,041 55 4 - 59 - 5,100 Total $ 769,191 $ 6,416 $ 671 $ 368 $ 7,455 $ 5,370 $ 782,016 |
Internal Credit Rating For The Loan Portfolio | Pass Special Mention Substandard Doubtful (Dollars in thousands) (1-5) (6) (7) (8) Total March 31, 2016 Residential Real Estate 1-4 Family First liens $ 158,220 $ 2,063 $ 1,523 $ - $ 161,806 Junior liens and lines of credit 52,229 28 158 - 52,415 Total 210,449 2,091 1,681 - 214,221 Residential real estate - construction 7,264 - 843 - 8,107 Commercial real estate 337,680 1,758 20,204 - 359,642 Commercial 210,697 4,537 437 - 215,671 Consumer 4,925 - 2 - 4,927 Total $ 771,015 $ 8,386 $ 23,167 $ - $ 802,568 December 31, 2015 Residential Real Estate 1-4 Family First liens $ 157,514 $ 2,122 $ 1,842 $ - $ 161,478 Junior liens and lines of credit 50,685 28 200 - 50,913 Total 208,199 2,150 2,042 - 212,391 Residential real estate - construction 7,386 - 502 - 7,888 Commercial real estate 319,985 6,175 14,535 - 340,695 Commercial 213,492 1,978 472 - 215,942 Consumer 5,100 - - - 5,100 Total $ 754,162 $ 10,303 $ 17,551 $ - $ 782,016 |
Troubled Debt Restructuring Loans | Troubled Debt Restructurings That Have Defaulted on Modified Terms in the (Dollars in thousands) Troubled Debt Restructurings Last Twelve Months Number of Recorded Number of Recorded Contracts Investment Performing* Nonperforming* Contracts Investment March 31, 2016 Residential real estate - construction 1 $ 501 $ 501 $ - - $ - Residential real estate 4 651 500 151 - - Commercial real estate 11 12,558 12,558 - - - Total 16 $ 13,710 $ 13,559 $ 151 - $ - December 31, 2015 Residential real estate - construction 1 $ 502 $ 502 $ - - $ - Residential real estate 4 654 503 151 - - Commercial real estate 10 12,125 12,125 - - - Total 15 $ 13,281 $ 13,130 $ 151 - $ - * The performing status is determined by the loan’s compliance with the modified terms . The following table reports new TDR loans during 2016, concession granted and the recorded investment as of March 31, 2016 : New During Period Number of Pre-TDR After-TDR Recorded Three Months Ended March 31, 2016 Contracts Modification Modification Investment Concession Commercial real estate 1 $ 525 $ 525 $ 525 multiple |
OREO (Tables)
OREO (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
OREO [Abstract] | |
Summary Of Changes In Other Real Estate Owned | March 31 (Dollars in thousands) 2016 2015 Balance at beginning of the period $ 6,451 $ 3,666 Additions - 449 Proceeds from dispositions (66) (129) (Loss) gain on sales, net (8) 32 Valuation adjustment (46) - Balance at the end of the period $ 6,331 $ 4,018 |
Pension (Tables)
Pension (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Pension [Abstract] | |
Schedule Of Net Periodic Pension Costs | Three Months Ended March 31 (Dollars in thousands) 2016 2105 Components of net periodic cost: Service cost $ 81 $ 100 Interest cost 180 178 Expected return on plan assets (293) (296) Recognized net actuarial loss 111 131 Net period cost $ 79 $ 113 |
Fair Value Measurements And F30
Fair Value Measurements And Fair Values Of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Fair Value, By Balance Sheet Grouping | March 31, 2016 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 59,127 $ 59,127 $ 59,127 $ - $ - Investment securities available for sale 154,691 154,691 236 154,455 - Restricted stock 439 439 - 439 - Loans held for sale 559 559 - 559 - Net loans 792,226 800,083 - - 800,083 Accrued interest receivable 3,151 3,151 - 3,151 - Financial liabilities: Deposits $ 950,968 $ 950,695 $ - $ 950,695 $ - Accrued interest payable 147 147 - 147 - December 31, 2015 Carrying Fair (Dollars in thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 39,166 $ 39,166 $ 39,166 $ - $ - Investment securities available for sale 159,473 159,473 233 159,240 - Restricted stock 782 782 - 782 - Loans held for sale 461 461 - 461 - Net loans 771,930 779,742 - - 779,742 Accrued interest receivable 3,164 3,164 - 3,164 - Financial liabilities: Deposits $ 918,512 $ 918,401 $ - $ 918,401 $ - Accrued interest payable 124 124 - 124 - |
Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis | (Dollars in Thousands Fair Value at March 31, 2016 Asset Description Level 1 Level 2 Level 3 Total Equity securities $ 236 $ - $ - $ 236 U.S. Government and Agency securities - 13,622 - 13,622 Municipal securities - 66,881 - 66,881 Trust Preferred Securities - 4,964 - 4,964 Agency mortgage-backed securities - 67,677 - 67,677 Private-label mortgage-backed securities - 1,276 - 1,276 Asset-backed securities - 35 - 35 Total assets $ 236 $ 154,455 $ - $ 154,691 (Dollars in Thousands) Fair Value at December 31, 2015 Asset Description Level 1 Level 2 Level 3 Total Equity securities $ 233 $ - $ - $ 233 U.S. Government and Agency securities - 13,836 - 13,836 Municipal securities - 69,188 - 69,188 Trust Preferred Securities - 5,289 - 5,289 Agency mortgage-backed securities - 69,519 - 69,519 Private-label mortgage-backed securities - 1,372 - 1,372 Asset-backed securities - 36 - 36 Total assets $ 233 $ 159,240 $ - $ 159,473 |
Schedule Of Fair Value An A Nonrecurring Basis | (Dollars in Thousands) Fair Value at March 31, 2016 Asset Description Level 1 Level 2 Level 3 Total Impaired loans (1) $ - $ - $ 5,302 $ 5,302 Other real estate owned (1) 225 225 Total assets $ - $ - $ 5,527 $ 5,527 (Dollars in Thousands) Fair Value at December 31, 2015 Asset Description Level 1 Level 2 Level 3 Total Premises held-for-sale (1) $ - $ - $ 225 $ 225 Other real estate owned (1) - - 6,128 6,128 Total assets $ - $ - $ 6,353 $ 6,353 (1) Includes assets directly charged-down to fair value during the year-to-date period. |
Fair Value Inputs, Assets, Quantitative Information | Quantitative Information about Level 3 Fair Value Measurements (Dollars in Thousands) at March 31, 2016 Range Asset Description Fair Value Valuation Technique Unobservable Input (Weighted Average) Impaired loans (1) $ 5,302 Appraisal Appraisal Adjustments (2) 30% ( 30% ) Cost to sell 8% ( 8% ) Other real estate owned (1) 225 Appraisal - - Cost to sell 8% ( 8% ) at December 31, 2015 Premises held-for-sale (1) $ 225 Appraisal - - Other real estate owned (1) 6,128 Appraisal - - Cost to sell 8% ( 8% ) (1) Includes assets directly charged-down to fair value during the year-to-date period. (2) Qualitative adjustments are discounts specific to each asset and are made as needed. |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Financial Derivatives [Abstract] | |
Schedule Of Effect Of Derivative Instruments On The Statement Of Income | Derivatives in ASC Topic 815 Cash Flow Hedging Relationships (Dollars in thousands) Amount of Gain Location of or (Loss) Gain or (Loss) Recognized in Recognized in Income on Location of Amount of Gain Income on Derivatives Amount of Gain Gain or (Loss) or (Loss) Derivative (Ineffective (Ineffective Portion or (Loss) Reclassified from Reclassified from Portion and Amount and Amount Recognized in OCI Accumulated OCI Accumulated OCI Excluded from Excluded from net of tax on Derivative into Income into Income Effectiveness Effectiveness Date / Type (Effective Portion) (Effective Portion) (Effective Portion) Testing) Testing) Interest rate contracts Three months ended: March 31, 2016 $ - Interest Expense $ - Other income (expense) $ - March 31, 2015 $ 62 Interest Expense $ (96) Other income (expense) $ - |
Capital Ratios (Tables)
Capital Ratios (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Capital Ratios [Abstract] | |
Schedule Of The Total Risk-based, Tier 1 Risk-based And Tier 1 Leverage Requirements | Regulatory Ratios Adequately Well Capitalized Capitalized (Dollars in thousands) March 31, 2016 December 31, 2015 Minimum Minimum Common Equity Tier 1 Risk-based Capital Ratio (1) Franklin Financial Services Corporation 14.61% 14.77% 5.125% N/A Farmers & Merchants Trust Company 14.65% 14.76% 5.125% 6.50% Tier 1 Risk-based Capital Ratio (2) Franklin Financial Services Corporation 14.61% 14.77% 6.625% N/A Farmers & Merchants Trust Company 14.65% 14.76% 6.625% 8.00% Total Risk-based Capital Ratio (3) Franklin Financial Services Corporation 15.87% 16.03% 8.625% N/A Farmers & Merchants Trust Company 15.91% 16.02% 8.625% 10.00% Tier 1 Leverage Ratio (4) Franklin Financial Services Corporation 10.38% 10.38% 4.000% N/A Farmers & Merchants Trust Company 10.39% 10.37% 4.000% 5.00% (1) Common equity Tier 1 capital/ total risk-weighted assets (2) Tier 1 capital / total risk-weighted assets (3) Total risk-based capital / total risk-weighted assets, (4) Tier 1 capital / average quarterly assets |
Basis Of Presentation (Details)
Basis Of Presentation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Basis Of Presentation [Abstract] | ||
Weighted average shares outstanding (basic) | 4,283 | 4,223 |
Impact of common stock equivalents | 2 | 6 |
Weighted average shares outstanding (diluted) | 4,285 | 4,229 |
Anti-dilutive options excluded from calculation | 63 | 29 |
Net income | $ 2,726 | $ 2,884 |
Basic earnings per share | $ 0.64 | $ 0.68 |
Diluted earnings per share | $ 0.64 | $ 0.68 |
Accumulated Other Comprehensi34
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accumulated Other Comprehensive Loss [Abstract] | ||
Net unrealized gains on securities | $ 2,202 | $ 1,138 |
Tax effect | (749) | (387) |
Net of tax amount | 1,453 | 751 |
Accumulated pension adjustment | (6,777) | (6,777) |
Tax effect | 2,304 | 2,304 |
Net of tax amount | (4,473) | (4,473) |
Total accumulated other comprehensive loss | $ (3,020) | $ (3,722) |
Guarantees (Details)
Guarantees (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Guarantor Obligations [Line Items] | ||
Letters of credit, Expiration period | 1 year | |
Financial Standby Letter of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Guarantees, carrying amount | $ 29.1 | $ 25.9 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016USD ($)security$ / shares | Mar. 31, 2015USD ($) | Dec. 31, 2015USD ($)security | Dec. 31, 2014USD ($) | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted stock | $ 439 | $ 782 | ||
Impairment write-down on securities recognized in earnings | $ 20 | $ 20 | ||
Number of temporarily impaired securities | security | 47 | 79 | ||
Securities pledged as collateral | $ 69,800 | $ 79,600 | ||
Gain on conversion of investment security | 728 | |||
Gain on sale of securities | 1 | 728 | ||
Available-for-sale Securities | 154,691 | 159,473 | ||
Proceeds from Sale and Maturity of Available-for-sale Securities | 615 | |||
Gross Unrealized Losses | 1,173 | 1,310 | ||
Cumulative OTTI Charges | 575 | $ 555 | 555 | $ 535 |
Fair value of temporarily impaired securities | $ 25,830 | $ 47,345 | ||
Federal Home Loan Bank of Pittsburgh [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted stock per share | $ / shares | $ 100 | |||
Non-Federal Home Loan Bank Of Pittsburgh [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Restricted stock | $ 30 | |||
Municipal Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of temporarily impaired securities | security | 6 | 15 | ||
Available-for-sale Securities | $ 66,881 | $ 69,188 | ||
Gross Unrealized Gain (Loss) | 78 | |||
Gross Unrealized Losses | 78 | 218 | ||
Fair value of temporarily impaired securities | $ 3,926 | $ 10,591 | ||
Trust Preferred Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of temporarily impaired securities | security | 7 | 7 | ||
Available-for-sale Securities | $ 4,964 | $ 5,289 | ||
Gross Unrealized Gain (Loss) | (1,000) | |||
Gross Unrealized Losses | 1,000 | 669 | ||
Fair value of temporarily impaired securities | $ 4,964 | $ 5,289 | ||
Private-Label Mortgage-Backed Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Number of temporarily impaired securities | security | 2 | 1 | ||
Available-for-sale Securities | $ 1,276 | $ 1,372 | ||
Gross Unrealized Gain (Loss) | 15 | |||
Gross Unrealized Losses | 5 | 2 | ||
Cumulative OTTI Charges | 575 | |||
Fair value of temporarily impaired securities | $ 670 | $ 246 | ||
Period of determining credit related loss, in days | 60 days |
Investments (Unrealized Gain (l
Investments (Unrealized Gain (loss) On Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 152,489 | $ 158,335 |
Gross Unrealized Gains | 3,375 | 2,448 |
Gross Unrealized Losses | (1,173) | (1,310) |
Available for sale | 154,691 | 159,473 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 164 | 164 |
Gross Unrealized Gains | 72 | 69 |
Available for sale | 236 | 233 |
U.S. Government And Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 13,362 | 13,705 |
Gross Unrealized Gains | 286 | 164 |
Gross Unrealized Losses | (26) | (33) |
Available for sale | 13,622 | 13,836 |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 65,022 | 67,851 |
Gross Unrealized Gains | 1,937 | 1,555 |
Gross Unrealized Losses | (78) | (218) |
Available for sale | 66,881 | 69,188 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,964 | 5,958 |
Gross Unrealized Losses | (1,000) | (669) |
Available for sale | 4,964 | 5,289 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 66,679 | 69,284 |
Gross Unrealized Gains | 1,060 | 621 |
Gross Unrealized Losses | (62) | (386) |
Available for sale | 67,677 | 69,519 |
Private-Label Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,261 | 1,335 |
Gross Unrealized Gains | 20 | 39 |
Gross Unrealized Losses | (5) | (2) |
Available for sale | 1,276 | 1,372 |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 37 | 38 |
Gross Unrealized Losses | (2) | (2) |
Available for sale | $ 35 | $ 36 |
Investments (Amortized Cost And
Investments (Amortized Cost And Fair Value Of Debt Securities, By Contractual Maturity) (Details) $ in Thousands | Mar. 31, 2016USD ($) |
Investments [Abstract] | |
Due in one year or less, Amortized cost | $ 1,673 |
Due after one year through five years, Amortized cost | 12,879 |
Due after five years through ten years, Amortized cost | 27,472 |
Due after ten years, Amortized cost | 42,361 |
Amortized Cost Contractual Maturities Subtotal | 84,385 |
Mortgage-backed securities, Amortized cost | 67,940 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 152,325 |
Due in one year or less, Fair value | 1,682 |
Due after one year through five years, Fair value | 13,215 |
Due after five years through ten years, Fair value | 28,425 |
Due after ten years, Fair value | 42,180 |
Fair Value Contractual Maturities Subtotal | 85,502 |
Mortgage-backed securities, Fair value | 68,953 |
Available-for-sale Securities, Debt Securities, Fair Value | $ 154,455 |
Investments (Composition Of Net
Investments (Composition Of Net Realized Securities Gains (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Investments [Abstract] | ||
Gross gains realized | $ 1 | |
Conversion gains | $ 728 | |
Net gains realized | $ 1 | $ 728 |
Investments (Schedule Of Trust
Investments (Schedule Of Trust Preferred Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | $ 152,489 | $ 158,335 |
Fair Value | 154,691 | 159,473 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost | 5,964 | 5,958 |
Fair Value | 4,964 | $ 5,289 |
Unrealized Gain (Loss) | $ (1,000) | |
Lowest Credit Rating Assigned: Standard & Poor's, BB Rating [Member] | Trust Preferred Securities: Huntington Cap Trust [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Feb. 1, 2027 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 944 | |
Fair Value | 803 | |
Unrealized Gain (Loss) | $ (141) | |
Lowest Credit Rating Assigned: Standard & Poor's, BB Rating [Member] | Trust Preferred Securities: Huntington Cap Trust II [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Jun. 15, 2028 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 896 | |
Fair Value | 776 | |
Unrealized Gain (Loss) | $ (120) | |
Lowest Credit Rating Assigned: Standard & Poor's, BBB- Rating [Member] | Trust Preferred Securities: Chase Cap VI JPM [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Aug. 1, 2028 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 965 | |
Fair Value | 786 | |
Unrealized Gain (Loss) | $ (179) | |
Lowest Credit Rating Assigned: Standard & Poor's, BB+ Rating [Member] | Trust Preferred Securities: BankAmerica Cap III [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Jan. 15, 2027 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 965 | |
Fair Value | 772 | |
Unrealized Gain (Loss) | $ (193) | |
Lowest Credit Rating Assigned: Standard & Poor's, BB+ Rating [Member] | Trust Preferred Securities: Fleet Cap Tr V [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Dec. 18, 2028 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 976 | |
Fair Value | 784 | |
Unrealized Gain (Loss) | $ (192) | |
Lowest Credit Rating Assigned: Standard & Poor's, BBB+ Rating [Member] | Trust Preferred Securities: Corestates Captl Tr II [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Feb. 15, 2027 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 940 | |
Fair Value | 802 | |
Unrealized Gain (Loss) | $ (138) | |
Lowest Credit Rating Assigned: Standard & Poor's, BBB Rating [Member] | Trust Preferred Securities: Wachovia Cap Trust II [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturity | Jan. 15, 2027 | |
Single issuer or pooled | Single | |
Class | Preferred Stock | |
Amortized cost | $ 278 | |
Fair Value | 241 | |
Unrealized Gain (Loss) | $ (37) |
Investments (Private Label Mort
Investments (Private Label Mortgage Backed Securities) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized cost | $ 152,489 | $ 158,335 | ||
Available for sale | 154,691 | 159,473 | ||
Cumulative OTTI Charges | 575 | 555 | $ 555 | $ 535 |
Private-Label Mortgage-Backed Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Amortized cost | 1,261 | 1,335 | ||
Available for sale | 1,276 | $ 1,372 | ||
Unrealized Gain (Loss) | 15 | |||
Cumulative OTTI Charges | $ 575 | |||
Lowest Credit Rating Assigned: Standard & Poor's, CCC Rating [Member] | MALT2004-6 7A1 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Origination Date | Jun. 1, 2004 | |||
Amortized cost | $ 334 | |||
Available for sale | 337 | |||
Unrealized Gain (Loss) | $ 3 | |||
Collateral Type | ALT A | |||
Credit Support % | 14.83% | |||
Lowest Credit Rating Assigned: Standard & Poor's, CC Rating [Member] | RALI2005-QS2 A1 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Origination Date | Feb. 1, 2005 | |||
Amortized cost | $ 195 | |||
Available for sale | 206 | |||
Unrealized Gain (Loss) | $ 11 | |||
Collateral Type | ALT A | |||
Credit Support % | 4.96% | |||
Cumulative OTTI Charges | $ 10 | |||
Lowest Credit Rating Assigned: Standard & Poor's, D Rating [Member] | RALI2006-QS4 A2 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Origination Date | Apr. 1, 2006 | |||
Amortized cost | $ 442 | |||
Available for sale | 441 | |||
Unrealized Gain (Loss) | $ (1) | |||
Collateral Type | ALT A | |||
Cumulative OTTI Charges | $ 323 | |||
Lowest Credit Rating Assigned: Standard & Poor's, D Rating [Member] | GSR 2006-5F 2A1 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Origination Date | May 1, 2006 | |||
Amortized cost | $ 57 | |||
Available for sale | 63 | |||
Unrealized Gain (Loss) | $ 6 | |||
Collateral Type | Prime | |||
Cumulative OTTI Charges | $ 15 | |||
Lowest Credit Rating Assigned: Standard & Poor's, D Rating [Member] | RALI2006-QS8 A1 [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Origination Date | Jul. 28, 2006 | |||
Amortized cost | $ 233 | |||
Available for sale | 229 | |||
Unrealized Gain (Loss) | $ (4) | |||
Collateral Type | ALT A | |||
Cumulative OTTI Charges | $ 227 |
Investments (Schedule Of Unreal
Investments (Schedule Of Unrealized Loss On Investments) (Details) $ in Thousands | Mar. 31, 2016USD ($)security | Dec. 31, 2015USD ($)security |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 5,153 | $ 25,262 |
Less than 12 months: Unrealized Losses | $ (16) | $ (251) |
Less than 12 months: Count | security | 10 | 40 |
12 months or more: Fair Value | $ 20,677 | $ 22,083 |
12 months or more: Unrealized Losses | $ (1,157) | $ (1,059) |
12 months or more: Count | security | 37 | 39 |
Fair Value | $ 25,830 | $ 47,345 |
Unrealized Losses | $ (1,173) | $ (1,310) |
Count | security | 47 | 79 |
U.S. Government And Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 1,308 | $ 479 |
Less than 12 months: Unrealized Losses | $ (1) | $ (1) |
Less than 12 months: Count | security | 4 | 3 |
12 months or more: Fair Value | $ 3,363 | $ 4,364 |
12 months or more: Unrealized Losses | $ (25) | $ (32) |
12 months or more: Count | security | 9 | 10 |
Fair Value | $ 4,671 | $ 4,843 |
Unrealized Losses | $ (26) | $ (33) |
Count | security | 13 | 13 |
Municipal Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 5,806 | |
Less than 12 months: Unrealized Losses | $ (35) | |
Less than 12 months: Count | security | 8 | |
12 months or more: Fair Value | $ 3,926 | $ 4,785 |
12 months or more: Unrealized Losses | $ (78) | $ (183) |
12 months or more: Count | security | 6 | 7 |
Fair Value | $ 3,926 | $ 10,591 |
Unrealized Losses | $ (78) | $ (218) |
Count | security | 6 | 15 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 months or more: Fair Value | $ 4,964 | $ 5,289 |
12 months or more: Unrealized Losses | $ (1,000) | $ (669) |
12 months or more: Count | security | 7 | 7 |
Fair Value | $ 4,964 | $ 5,289 |
Unrealized Losses | $ (1,000) | $ (669) |
Count | security | 7 | 7 |
Agency Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months: Fair Value | $ 3,845 | $ 18,977 |
Less than 12 months: Unrealized Losses | $ (15) | $ (215) |
Less than 12 months: Count | security | 6 | 29 |
12 months or more: Fair Value | $ 7,749 | $ 7,394 |
12 months or more: Unrealized Losses | $ (47) | $ (171) |
12 months or more: Count | security | 12 | 13 |
Fair Value | $ 11,594 | $ 26,371 |
Unrealized Losses | $ (62) | $ (386) |
Count | security | 18 | 42 |
Private-Label Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 months or more: Fair Value | $ 670 | $ 246 |
12 months or more: Unrealized Losses | $ (5) | $ (2) |
12 months or more: Count | security | 2 | 1 |
Fair Value | $ 670 | $ 246 |
Unrealized Losses | $ (5) | $ (2) |
Count | security | 2 | 1 |
Asset-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 months or more: Fair Value | $ 5 | $ 5 |
12 months or more: Unrealized Losses | $ (2) | $ (2) |
12 months or more: Count | security | 1 | 1 |
Fair Value | $ 5 | $ 5 |
Unrealized Losses | $ (2) | $ (2) |
Count | security | 1 | 1 |
Investments (Other Than Tempora
Investments (Other Than Temporary Impairment, Credit Losses Recognized In Earnings) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Investments [Abstract] | ||
Balance of cumulative credit-related OTTI at January 1 | $ 555 | $ 535 |
Additions for credit-related OTTI not previously recognized | $ 20 | $ 20 |
Additions increases for credit-related OTTI previously recognized when there is no intent to sell and no requirement to sell before recovery of amortized cost basis | ||
Decrease for previously recognized credit-related OTTI because there was an intent to sell | ||
Reduction for increases in cash flows expected to be collected | ||
Balance of credit-related OTTI at March 31 | $ 575 | $ 555 |
Loans (Schedule Of Loans Outsta
Loans (Schedule Of Loans Outstanding) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 802,568 | $ 782,016 | ||
Less: Allowance for loan losses | (10,342) | (10,086) | $ (9,210) | $ (9,111) |
Net Loans | 792,226 | 771,930 | ||
Change Amount | $ 20,552 | |||
Change % | 2.60% | |||
Allowance for loan losses, Change Amount | $ (256) | |||
Allowance for loan losses, Change % | 2.50% | |||
Net Loans, Change Amount | $ 20,296 | |||
Net Loans, Change % | 2.60% | |||
Net unamortized deferred loan costs (fees) | $ 547 | 436 | ||
Loans pledged as collateral for borrowings and commitments from: FHLB | 665,635 | 643,449 | ||
Loans pledged as collateral for borrowings and commitments from :Federal Reserve Bank | 42,932 | 45,111 | ||
Total loans pledged as collateral | 708,567 | 688,560 | ||
Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | 214,221 | 212,391 | ||
Change Amount | $ 1,830 | |||
Change % | 0.90% | |||
Residential Real Estate - Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 8,107 | 7,888 | ||
Less: Allowance for loan losses | (199) | (194) | (249) | (214) |
Change Amount | $ 219 | |||
Change % | 2.80% | |||
Commercial Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 359,642 | 340,695 | ||
Less: Allowance for loan losses | (6,181) | (5,649) | (5,137) | (4,978) |
Change Amount | $ 18,947 | |||
Change % | 5.60% | |||
Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 215,671 | 215,942 | ||
Less: Allowance for loan losses | (1,510) | (1,519) | (1,352) | (1,515) |
Change Amount | $ (271) | |||
Change % | (0.10%) | |||
Total Commercial [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 575,313 | 556,637 | ||
Change Amount | $ 18,676 | |||
Change % | 3.40% | |||
Consumer [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 4,927 | 5,100 | ||
Less: Allowance for loan losses | (99) | (102) | (117) | (127) |
Change Amount | $ (173) | |||
Change % | (3.40%) | |||
Consumer First Liens [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 101,412 | 103,698 | ||
Change Amount | $ (2,286) | |||
Change % | (2.20%) | |||
Consumer Junior Liens And Lines Of Credit [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 46,479 | 44,996 | ||
Change Amount | $ 1,483 | |||
Change % | 3.30% | |||
Consumer [Member] | Residential Real Estate - Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 514 | 545 | ||
Change Amount | $ (31) | |||
Change % | (5.70%) | |||
Commercial Junior Liens And Lines Of Credit [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 5,936 | 5,917 | ||
Change Amount | $ 19 | |||
Change % | 0.30% | |||
Commercial [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 60,394 | 57,780 | ||
Change Amount | $ 2,614 | |||
Change % | 4.50% | |||
Commercial [Member] | Residential Real Estate - Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 7,593 | 7,343 | ||
Change Amount | $ 250 | |||
Change % | 3.40% | |||
First Liens [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 161,806 | 161,478 | ||
Less: Allowance for loan losses | (997) | (989) | $ (1,016) | $ (994) |
Change Amount | $ 328 | |||
Change % | 0.20% | |||
Junior Lines And Lines Of Credit [Member] | Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans | $ 52,415 | $ 50,913 | ||
Change Amount | $ 1,502 | |||
Change % | 3.00% |
Loan Quality (Allowance For Loa
Loan Quality (Allowance For Loan Losses, By Loan Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | $ 10,086 | $ 9,111 | ||
Charge-offs | (111) | (253) | ||
Recoveries | 67 | 27 | ||
Provision | 300 | 325 | ||
Allowance, Ending Balance | 10,342 | 9,210 | ||
Loans evaluated for allowance individually | $ 20,366 | $ 16,022 | ||
Loans evaluated for allowance collectively | 782,202 | 765,994 | ||
Total Loans | 802,568 | 782,016 | ||
Allowance established for loans evaluated individually | 74 | 9 | ||
Allowance established for loan evaluated collectively | 10,268 | 10,077 | ||
Total Allowance | 10,086 | 9,111 | 10,342 | 10,086 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total Loans | 214,221 | 212,391 | ||
Residential Real Estate - Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 194 | 214 | ||
Provision | 5 | 35 | ||
Allowance, Ending Balance | 199 | 249 | ||
Loans evaluated for allowance individually | 501 | 502 | ||
Loans evaluated for allowance collectively | 7,606 | 7,386 | ||
Total Loans | 8,107 | 7,888 | ||
Allowance established for loan evaluated collectively | 199 | 194 | ||
Total Allowance | 194 | 214 | 199 | 194 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 5,649 | 4,978 | ||
Charge-offs | (3) | |||
Provision | 535 | 159 | ||
Allowance, Ending Balance | 6,181 | 5,137 | ||
Loans evaluated for allowance individually | 19,415 | 14,309 | ||
Loans evaluated for allowance collectively | 340,227 | 326,386 | ||
Total Loans | 359,642 | 340,695 | ||
Allowance established for loans evaluated individually | 74 | |||
Allowance established for loan evaluated collectively | 6,107 | 5,649 | ||
Total Allowance | 5,649 | 4,978 | 6,181 | 5,649 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 1,519 | 1,515 | ||
Charge-offs | (63) | (201) | ||
Recoveries | 15 | 6 | ||
Provision | 39 | 32 | ||
Allowance, Ending Balance | 1,510 | 1,352 | ||
Loans evaluated for allowance individually | 230 | |||
Loans evaluated for allowance collectively | 215,671 | 215,712 | ||
Total Loans | 215,671 | 215,942 | ||
Allowance established for loans evaluated individually | 9 | |||
Allowance established for loan evaluated collectively | 1,510 | 1,510 | ||
Total Allowance | 1,519 | 1,515 | 1,510 | 1,519 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 102 | 127 | ||
Charge-offs | (42) | (52) | ||
Recoveries | 20 | 19 | ||
Provision | 19 | 23 | ||
Allowance, Ending Balance | 99 | 117 | ||
Loans evaluated for allowance collectively | 4,927 | 5,100 | ||
Total Loans | 4,927 | 5,100 | ||
Allowance established for loan evaluated collectively | 99 | 102 | ||
Total Allowance | 102 | 127 | 99 | 102 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 1,325 | 1,012 | ||
Provision | (285) | 59 | ||
Allowance, Ending Balance | 1,040 | 1,071 | ||
Allowance established for loan evaluated collectively | 1,040 | 1,325 | ||
Total Allowance | 1,325 | 1,012 | 1,040 | 1,325 |
First Liens [Member] | Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 989 | 994 | ||
Charge-offs | (3) | |||
Recoveries | 32 | 2 | ||
Provision | (21) | 20 | ||
Allowance, Ending Balance | 997 | 1,016 | ||
Loans evaluated for allowance individually | 398 | 930 | ||
Loans evaluated for allowance collectively | 161,408 | 160,548 | ||
Total Loans | 161,806 | 161,478 | ||
Allowance established for loan evaluated collectively | 997 | 989 | ||
Total Allowance | 989 | 994 | 997 | 989 |
Junior Liens & Lines Of Credit [Member] | Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance, Beginning Balance | 308 | 271 | ||
Provision | 8 | (3) | ||
Allowance, Ending Balance | 316 | 268 | ||
Loans evaluated for allowance individually | 52 | 51 | ||
Loans evaluated for allowance collectively | 52,363 | 50,862 | ||
Total Loans | 52,415 | 50,913 | ||
Allowance established for loan evaluated collectively | 316 | 308 | ||
Total Allowance | $ 308 | $ 271 | $ 316 | $ 308 |
Loan Quality (Impaired Financin
Loan Quality (Impaired Financing Receivables) (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | $ 15,987 | $ 16,828 | |
Unpaid Principal Balance With No Allowance | 16,884 | 17,741 | |
Recorded Investment With Allowance | 5,376 | 9 | |
Unpaid Principal Balance With Allowance | 5,376 | 10 | |
Related Allowance | 74 | 9 | |
Average Recorded Investment | 16,057 | $ 26,417 | |
Interest Income Recognized | 127 | 161 | |
Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 1,132 | 1,628 | |
Unpaid Principal Balance With No Allowance | 1,241 | 1,858 | |
Average Recorded Investment | 1,139 | 1,974 | |
Interest Income Recognized | 6 | 8 | |
Residential Real Estate [Member] | First Liens [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 1,067 | 1,523 | |
Unpaid Principal Balance With No Allowance | 1,140 | 1,725 | |
Average Recorded Investment | 1,069 | 1,829 | |
Interest Income Recognized | 6 | 8 | |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 65 | 105 | |
Unpaid Principal Balance With No Allowance | 101 | 133 | |
Average Recorded Investment | 70 | $ 145 | |
Interest Income Recognized | |||
Residential Real Estate - Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 501 | 502 | |
Unpaid Principal Balance With No Allowance | 545 | 546 | |
Average Recorded Investment | 502 | $ 931 | |
Interest Income Recognized | 84 | ||
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 14,312 | 14,431 | |
Unpaid Principal Balance With No Allowance | 15,044 | 15,007 | |
Recorded Investment With Allowance | 5,376 | ||
Unpaid Principal Balance With Allowance | 5,376 | ||
Related Allowance | 74 | ||
Average Recorded Investment | 14,372 | 22,187 | |
Interest Income Recognized | 121 | 69 | |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment With No Allowance | 42 | 267 | |
Unpaid Principal Balance With No Allowance | 54 | 330 | |
Recorded Investment With Allowance | 9 | ||
Unpaid Principal Balance With Allowance | 10 | ||
Related Allowance | $ 9 | ||
Average Recorded Investment | $ 44 | $ 1,325 | |
Interest Income Recognized |
Loan Quality (Aging Of Payments
Loan Quality (Aging Of Payments Of The Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 790,519 | $ 769,191 |
Loans Past Due and Still Accruing | 1,919 | 7,455 |
Non-accrual loans | 10,130 | 5,370 |
Total Loans | 802,568 | 782,016 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 1,587 | 6,416 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 103 | 671 |
Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 229 | 368 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 212,737 | 210,539 |
Loans Past Due and Still Accruing | 920 | 941 |
Non-accrual loans | 564 | 911 |
Total Loans | 214,221 | 212,391 |
Residential Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 710 | 261 |
Residential Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 101 | 466 |
Residential Real Estate [Member] | Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 109 | 214 |
Residential Real Estate [Member] | First Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 160,652 | 159,998 |
Loans Past Due and Still Accruing | 655 | 674 |
Non-accrual loans | 499 | 806 |
Total Loans | 161,806 | 161,478 |
Residential Real Estate [Member] | First Liens [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 470 | 44 |
Residential Real Estate [Member] | First Liens [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 76 | 416 |
Residential Real Estate [Member] | First Liens [Member] | Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 109 | 214 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 52,085 | 50,541 |
Loans Past Due and Still Accruing | 265 | 267 |
Non-accrual loans | 65 | 105 |
Total Loans | 52,415 | 50,913 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 240 | 217 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 25 | 50 |
Residential Real Estate - Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 7,488 | 7,209 |
Loans Past Due and Still Accruing | 118 | 177 |
Non-accrual loans | 501 | 502 |
Total Loans | 8,107 | 7,888 |
Residential Real Estate - Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 177 | |
Residential Real Estate - Construction [Member] | Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 118 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 350,024 | 330,953 |
Loans Past Due and Still Accruing | 595 | 6,061 |
Non-accrual loans | 9,023 | 3,681 |
Total Loans | 359,642 | 340,695 |
Commercial Real Estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 595 | 5,713 |
Commercial Real Estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 196 | |
Commercial Real Estate [Member] | Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 152 | |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 215,369 | 215,449 |
Loans Past Due and Still Accruing | 260 | 217 |
Non-accrual loans | 42 | 276 |
Total Loans | 215,671 | 215,942 |
Commercial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 260 | 210 |
Commercial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 5 | |
Commercial [Member] | Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 2 | |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 4,901 | 5,041 |
Loans Past Due and Still Accruing | 26 | 59 |
Total Loans | 4,927 | 5,100 |
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 22 | 55 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | 2 | $ 4 |
Consumer [Member] | Financing Receivables, 90 Days+ Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Past Due and Still Accruing | $ 2 |
Loan Quality (Internal Credit R
Loan Quality (Internal Credit Rating For The Loan Portfolio) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 802,568 | $ 782,016 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 771,015 | 754,162 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 8,386 | 10,303 |
Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 23,167 | $ 17,551 |
Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 214,221 | $ 212,391 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 210,449 | 208,199 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,091 | 2,150 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 1,681 | $ 2,042 |
Residential Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate [Member] | First Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 161,806 | $ 161,478 |
Residential Real Estate [Member] | First Liens [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 158,220 | 157,514 |
Residential Real Estate [Member] | First Liens [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 2,063 | 2,122 |
Residential Real Estate [Member] | First Liens [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 1,523 | $ 1,842 |
Residential Real Estate [Member] | First Liens [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 52,415 | $ 50,913 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 52,229 | 50,685 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 28 | 28 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 158 | $ 200 |
Residential Real Estate [Member] | Junior Liens & Lines Of Credit [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Residential Real Estate - Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 8,107 | $ 7,888 |
Residential Real Estate - Construction [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 7,264 | 7,386 |
Residential Real Estate - Construction [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 843 | $ 502 |
Residential Real Estate - Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 359,642 | $ 340,695 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 337,680 | 319,985 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 1,758 | 6,175 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 20,204 | $ 14,535 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 215,671 | $ 215,942 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 210,697 | 213,492 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 4,537 | 1,978 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 437 | $ 472 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | ||
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 4,927 | $ 5,100 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | 4,925 | $ 5,100 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount | $ 2 | |
Consumer [Member] | Doubtful [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans and Leases Receivable, Gross, Carrying Amount |
Loan Quality (Troubled Debt Res
Loan Quality (Troubled Debt Restructuring Loans) (Details) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016USD ($)contract | Mar. 31, 2015contract | Dec. 31, 2015USD ($)contract | ||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 16 | 15 | ||
Troubled Debt Restructurings: Recorded Investment | $ 13,710 | $ 13,281 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ||||
Troubled Debt Restructurings, New During Period, Number of Contracts | contract | 0 | |||
Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 13,559 | $ 13,130 | |
Nonperforming [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 151 | $ 151 | |
Residential Real Estate - Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 1 | 1 | ||
Troubled Debt Restructurings: Recorded Investment | $ 501 | $ 502 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ||||
Residential Real Estate - Construction [Member] | Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 501 | $ 502 | |
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 4 | 4 | ||
Troubled Debt Restructurings: Recorded Investment | $ 651 | $ 654 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ||||
Residential Real Estate [Member] | Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 500 | $ 503 | |
Residential Real Estate [Member] | Nonperforming [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 151 | $ 151 | |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Number of Contracts | contract | 11 | 10 | ||
Troubled Debt Restructurings: Recorded Investment | $ 12,558 | $ 12,125 | ||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Number of Contracts | contract | ||||
Troubled Debt Restructurings That Have Defaulted on Modified Terms YTD: Recorded Investment | ||||
New During Period, Number of Contracts | contract | 1 | |||
New During Period, Pre-TDR Modification | $ 525 | |||
New During Period, After-TDR Modification | 525 | |||
New During Period, Recorded Investment | 525 | |||
Commercial Real Estate [Member] | Performing [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Troubled Debt Restructurings: Recorded Investment | [1] | $ 12,558 | $ 12,125 | |
[1] | The performing status is determined by the loan's compliance with the modified terms. |
OREO (Details)
OREO (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
OREO [Abstract] | ||
Balance at beginning of the period | $ 6,451 | $ 3,666 |
Additions | 449 | |
Proceeds from dispositions | (66) | (129) |
(Loss) gain on sales, net | (8) | 32 |
Valuation adjustment | (46) | |
Balance at the end of the period | $ 6,331 | $ 4,018 |
Pension (Narrative) (Details)
Pension (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Pension [Abstract] | |||
Expected pension expense | $ 359 | ||
Pension Contributions | 0 | ||
Pension expense | $ 79 | $ 113 | $ 387 |
Pension (Schedule Of Net Period
Pension (Schedule Of Net Periodic Pension Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Pension [Abstract] | |||
Service cost | $ 81 | $ 100 | |
Interest cost | 180 | 178 | |
Expected return on plan assets | (293) | (296) | |
Recognized net actuarial loss | 111 | 131 | |
Net periodic pension cost | $ 79 | $ 113 | $ 387 |
Fair Value Measurements And F53
Fair Value Measurements And Fair Values Of Financial Instruments (Narrative) (Details) | Mar. 31, 2016USD ($) |
Fair Value Measurements And Fair Values Of Financial Instruments [Abstract] | |
Liabilities, nonrecurring basis | $ 0 |
Assets, Level 1 to Level 2 Transfers | 0 |
Liabilities, Level 1 to Level 2 Transfers | $ 0 |
Fair Value Measurements And F54
Fair Value Measurements And Fair Values Of Financial Instruments (Fair Value, By Balance Sheet Grouping) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale, at fair value | $ 154,691 | $ 159,473 |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 59,127 | 39,166 |
Investment securities available for sale, at fair value | 154,691 | 159,473 |
Restricted stock | 439 | 782 |
Loans held for sale | 559 | 461 |
Net loans | 792,226 | 771,930 |
Accrued interest receivable | 3,151 | 3,164 |
Deposits | 950,968 | 918,512 |
Accrued interest payable | 147 | 124 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 59,127 | 39,166 |
Investment securities available for sale, at fair value | 154,691 | 159,473 |
Restricted stock | 439 | 782 |
Loans held for sale | 559 | 461 |
Net loans | 800,083 | 779,742 |
Accrued interest receivable | 3,151 | 3,164 |
Deposits | 950,695 | 918,401 |
Accrued interest payable | 147 | 124 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 59,127 | 39,166 |
Investment securities available for sale, at fair value | 236 | 233 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities available for sale, at fair value | 154,455 | 159,240 |
Restricted stock | 439 | 782 |
Loans held for sale | 559 | 461 |
Accrued interest receivable | 3,151 | 3,164 |
Deposits | 950,695 | 918,401 |
Accrued interest payable | 147 | 124 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Net loans | $ 800,083 | $ 779,742 |
Fair Value Measurements And F55
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | $ 154,691 | $ 159,473 |
Total assets | 154,691 | 159,473 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 236 | 233 |
Total assets | 236 | 233 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 154,455 | 159,240 |
Total assets | 154,455 | 159,240 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 236 | 233 |
Equity Securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 236 | 233 |
U.S. Government And Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 13,622 | 13,836 |
U.S. Government And Agency Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 13,622 | 13,836 |
Municipal Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 66,881 | 69,188 |
Municipal Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 66,881 | 69,188 |
Trust Preferred Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 4,964 | 5,289 |
Trust Preferred Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 4,964 | 5,289 |
Agency Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 67,677 | 69,519 |
Agency Mortgage-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 67,677 | 69,519 |
Private-Label Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 1,276 | 1,372 |
Private-Label Mortgage-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 1,276 | 1,372 |
Asset-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | 35 | 36 |
Asset-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale | $ 35 | $ 36 |
Fair Value Measurements And F56
Fair Value Measurements And Fair Values Of Financial Instruments (Schedule Of Fair Value An A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 5,527 | $ 6,353 | |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 5,527 | 6,353 | |
Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 5,302 | |
Impaired Loans [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 5,302 | |
Premises Held-For-Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 225 | |
Premises Held-For-Sale [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 225 | |
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 225 | 6,128 |
Other Real Estate Owned [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | $ 225 | $ 6,128 |
[1] | Includes assets directly charged-down to fair value during the year-to-date period. |
Fair Value Measurements And F57
Fair Value Measurements And Fair Values Of Financial Instruments (Fair Value Inputs, Assets, Quantitative Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | $ 5,527 | $ 6,353 | |
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | 5,527 | 6,353 | |
Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 5,302 | |
Impaired Loans [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | $ 5,302 | |
Fair Value Measurements, Valuation Techniques | [2] | Appraisal | |
Impaired Loans [Member] | Level 3 [Member] | Appraisal Adjustments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | [3] | 30.00% | |
Impaired Loans [Member] | Level 3 [Member] | Cost To Sell [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | 8.00% | ||
Impaired Loans [Member] | Level 3 [Member] | Weighted Average [Member] | Appraisal Adjustments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | [3] | 30.00% | |
Impaired Loans [Member] | Level 3 [Member] | Weighted Average [Member] | Cost To Sell [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | 8.00% | ||
Premises Held-For-Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 225 | |
Premises Held-For-Sale [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | 225 | |
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | $ 225 | 6,128 |
Other Real Estate Owned [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets, Fair Value Disclosure, Nonrecurring | [1] | $ 225 | $ 6,128 |
Fair Value Measurements, Valuation Techniques | [2] | Appraisal | |
Other Real Estate Owned [Member] | Level 3 [Member] | Cost To Sell [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | 8.00% | 8.00% | |
Other Real Estate Owned [Member] | Level 3 [Member] | Weighted Average [Member] | Cost To Sell [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs, Discount Rate | 8.00% | 8.00% | |
[1] | Includes assets directly charged-down to fair value during the year-to-date period. | ||
[2] | Valuation and inputs are determined by a third-party pricing service without adjustment. | ||
[3] | Qualitative adjustments are discounts specific to each asset and are made as needed. |
Financial Derivatives (Narrativ
Financial Derivatives (Narrative) (Details) $ in Thousands | Mar. 31, 2016USD ($) |
Interest Rate Swap Maturing [Member] | |
Derivative [Line Items] | |
Derivative, net | $ 0 |
Financial Derivatives (Schedule
Financial Derivatives (Schedule Of Effect Of Derivative Instruments On The Statement Of Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in OCI net of tax on Derivative (Effective Portion) | $ 62 | |
Interest Expense [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | $ (96) | |
Other Income (Expense) [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) |
Capital Ratios (Narrative) (Det
Capital Ratios (Narrative) (Details) | 3 Months Ended | |||
Mar. 31, 2016 | Dec. 31, 2015 | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Capital Ratios, Basel III, Capital Conservation Buffer | 0.125% | |||
Future Capital Ratios Basel III Capital Conservation Buffer | 2.50% | |||
Adequately capitalized minimum ratios capital conservation buffer | 0.625% | |||
Farmers & Merchants Trust Company [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common Equity Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [1] | 6.50% | ||
Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | 8.00% | [2] | 6.00% | |
Tier 1 Leverage Ratio: Well Capitalized Minimum: Ratio | [3] | 5.00% | ||
Total Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [4] | 10.00% | ||
[1] | Common equity Tier 1 capital/ total risk-weighted assets | |||
[2] | Tier 1 capital / total risk-weighted assets | |||
[3] | Tier 1 capital / average quarterly assets | |||
[4] | Total risk-based capital / total risk-weighted assets |
Capital Ratios (Schedule Of The
Capital Ratios (Schedule Of The Total Risk-based, Tier 1 Risk-based And Tier 1 Leverage Requirements) (Details) | Mar. 31, 2016 | Dec. 31, 2015 | ||
Franklin Financial Service Corporation [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common Equity Tier 1 Risk-based Capital Ratio: Ratio | [1] | 14.61% | 14.77% | |
Common Equity Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [1] | 5.125% | ||
Tier 1 Risk-based Capital Ratio: Ratio | [2] | 14.61% | 14.77% | |
Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [2] | 6.625% | ||
Total Risk-based Capital Ratio: Ratio | [3] | 15.87% | 16.03% | |
Total Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [3] | 8.625% | ||
Tier 1 Leverage Ratio: Ratio | [4] | 10.38% | 10.38% | |
Tier 1 Leverage Ratio: Adequately Capitalized Minimum: Ratio | [4] | 4.00% | ||
Farmers & Merchants Trust Company [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common Equity Tier 1 Risk-based Capital Ratio: Ratio | [1] | 14.65% | 14.76% | |
Common Equity Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [1] | 5.125% | ||
Common Equity Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [1] | 6.50% | ||
Tier 1 Risk-based Capital Ratio: Ratio | [2] | 14.65% | 14.76% | |
Tier 1 Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [2] | 6.625% | ||
Tier 1 Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | 8.00% | [2] | 6.00% | |
Total Risk-based Capital Ratio: Ratio | [3] | 15.91% | 16.02% | |
Total Risk-based Capital Ratio: Adequately Capitalized Minimum: Ratio | [3] | 8.625% | ||
Total Risk-based Capital Ratio: Well Capitalized Minimum: Ratio | [3] | 10.00% | ||
Tier 1 Leverage Ratio: Ratio | [4] | 10.39% | 10.37% | |
Tier 1 Leverage Ratio: Adequately Capitalized Minimum: Ratio | [4] | 4.00% | ||
Tier 1 Leverage Ratio: Well Capitalized Minimum: Ratio | [4] | 5.00% | ||
[1] | Common equity Tier 1 capital/ total risk-weighted assets | |||
[2] | Tier 1 capital / total risk-weighted assets | |||
[3] | Total risk-based capital / total risk-weighted assets | |||
[4] | Tier 1 capital / average quarterly assets |